Category: public offering

NMT registers for $30 million stock sale

February 9, 2010 by MassDevice staff

NMT Medical Inc. (NSDQ:NMTI) is looking to raise $30 million through a public stock offering to bring its STARFlex cardiac implant through the regulatory process and into the marketplace.

The Boston-based cardiac implant maker said it needs the money because it's low on cash reserves and heavily leveraged. NMT only has about $9 million in cash reserves and has amassed more than $50 million in debt, according to a prospectus filed with the federal Securities & Exchange Commission.