The Eden Prairie, Minn.-based fluid management device maker said the $5.25-per-unit offering is worth a total of $10.8 million, divided into two issues. The first consists of 147,000 Class A units of a stock share and a pair of warrants at that price, one at a five-year term and another set to expire either in 18 months or the 30th trading day after the company announced a hoped-for FDA clearance of a pediatric indication for its Aquadex FlexFlow device.
The second tranche is for 1.9 million Class B units, each consisting of a Series G convertible share plus the pair of 5-year and FDA-conditional warrants. There’s also a 45-day underwriters over-allotment that could add another $1.6 million if fully exercised.
Formerly know as Sunshine Heart, CHF rebranded back in May 2017.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.