Merit Medical Systems Inc. (NSDQ:MMSI) shareholders will soon get a 25 percent boost in the number of shares they own in the company after its board approved a 5-for-4 forward stock split, the company said today.
The split, which the company scheduled after market close on May 5, also corresponds to a proportionate reduction in equity and cash value per share. Boards often split their companies’ stock to make shares more affordable.
Merit’s approximately 29.0 million outstanding shares were worth about $23.51 a piece at the time the market closed today on a diluted basis. If that price were to hold through the May 2 split, which will increase the number of MMSI shares to 36.3 million, they would be worth about $18.78 each.
South Jordan, Utah-based company manufactures disposable devices used primarily in cardiology, radiology and endoscopy.
Here’s a roundup of the latest dealflow and investment news:
- AngioScore raises of $12 million through private equity
AngioScore Inc. completed a $12 million private equity financing. The financing was led by Saints Capital as a new institutional investor. The company’s existing institutional investors include Psilos Group Managers, Telegraph Hill Partners, QuestMark Partners, Pelion Venture Partners, California Technology Ventures and Innomed Ventures. Upon the close of the financing, Scott Halsted, Managing Director of Saints Capital, was named to the AngioScore Board of Directors.
- NanoViricides adds $5 million to coffers in shelf offering
NanoViricides Inc. (OTC:NNVC) raised $5 million, drawing down on its previously announced universal registered shelf “Form S-3” offering. The registered shelf offering became effective on April 29 and continues to remain effective. The company received this financing from a single investor, Seaside 88 LP of Florida. Seaside has previously financed NanoViricides with a total of approximately $10 million under a similar arrangement.
- Sangart closes $50 million Series G
Sangart Inc. received more than $50 million in new equity funding from existing investors, led by Leucadia National Corp. The most recent investment brings the total funding raised by the company since its inception in 1998 to more than $230 million. This financing round also included warrants which, if exercised, could provide up to an additional $50 million in future funding.
- NewCardio drums up $140,000
NewCardio Inc. issued 140 shares of its Series D convertible preferred stock, and warrants to purchase 140,000 shares of is common stock to an accredited investor pursuant to a supplement to the securities purchase agreement dated as of October 1, 2010 for a purchase price of $140,000. Each of the shares is convertible, at any time at the option of the holder, into 1,000 shares of the Santa Clara, Calif.-based company’s common stock. The warrants are exercisable at a price of $1.10 per share at any time commencing October 14, 2011 through April 13, 2016 and have a cashless exercise provision.
- Humedica drums up $20 million
Boston-based clinical informatics company Humedica Inc. raised $20 million from nine unnamed investors in an equity-based offering, according to an SEC filing. The firm previously raised $30 million from Bain Capital Ventures, General Catalyst Partners, North Bridge Venture Partners, and the investment bank Leerink Swann in summer 2008, according to Xconomy.