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Kips Bay Medical Inc Announces Pricing Of Public Offering Of Common Stock


Friday, 21 Dec 2012 03:55pm EST 

Kips Bay Medical Inc announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock for total estimated gross proceeds of $6.5 million. Kips Bay Medical has also granted the underwriters a 45-day option to purchase up to 1,500,000 additional shares of common stock. The offering is subject to customary closing conditions and is expected to close on December 27, 2012. Kips Bay Medical intends to use the net proceeds of this offering to seek regulatory approval to market its eSVS Mesh in the United States and abroad, including continuing its human clinical trials for the United States Food & Drug Administration, to develop and test additional applications of its eSVS Mesh, and for working capital and general corporate purposes. Sunrise Securities Corp. is acting as the sole book-running manager. Aegis Capital Corp. is acting as co-manager. 

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22 Aug 2014