Cardiac Surgery
ATS Medical Announces $20 Million in Proceeds From a Private Equity Financing and Announces Resolution of Litigation
Published in Cardiovascular Device Liability Week, January 11th, 2009
ATS Medical, Inc. (NASDAQ:ATSI), a manufacturer and marketer of state-of-the-art cardiac surgery products and services, announced that it has closed a $20 million equity financing with Essex Woodlands Health Ventures. In connection with the financing, ATS Medical issued and sold to Essex Woodlands 8,510,639 shares of its common stock at a purchase price of $2.35 per share, and warrants to purchase 2,533,192 shares of common stock at an exercise price of $2.475 per share during the first year after the closing, $2.85 per share during the second year, and $3.10 thereafter.
"With ATS Medical's technological innovation, strong product portfolio and experienced management...
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