The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Cardiac medical device firm Sunshine Heart (ASX:SHC) raised $4.6 million by selling 115 million shares in a private placement with institutional investors in the U.S. and Canada at 4 cents per share.
The Eden Prairie, Minnesota-based company is developing the C-Pulse(R) Heart Assist System, an implantable, non-blood-contacting, heart assist therapy to treat moderate to severe heart failure.
Sunshine Heart Inc. (ASX:SHC) raised $9.4 million, including $3.5 million from the sale of equity and options in the U.S., according to documents filed with the federal Securities & Exchange Commission.
Institutional investors in the U.S. have committed to buy a $3.5 million stake in Sunshine Heart Inc. (ASX:SHC) shares in a private placement — provided the company’s Australian shareholders agree.
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