Key Developments: Sunshine Heart Inc (SSH.OQ)

SSH.OQ on NASDAQ Stock Exchange Capital Market

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24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Sunshine Heart Inc Closes Public Offering Of Common Shares
Tuesday, 24 Sep 2013 11:41am EDT 

Sunshine Heart Inc announced the closing of its previously announced underwritten public offering of 4,381,500 shares of its common stock, which includes the full overallotment of 571,500 shares, at a price to the public of $10.50 per share. The net proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total approximately $42.6 million. Piper Jaffray & Co. and Cowen and Company, LLC acted as joint book-running managers and Lazard Capital Markets LLC acted as co-lead manager for the offering. Craig-Hallum Capital Group and Northland Securities, Inc. acted as co-managers for the offering. Sunshine Heart intends to use the net proceeds from the offering for general corporate purposes, including its ongoing U.S. pivotal trial and post-market EU study, initial commercialization of the C-Pulse Heart Assist System, or C-Pulse System, in the EU, and product development activities.  Full Article

Sunshine Heart Inc Prices $40.0 Million Public Offering Of Common Shares
Thursday, 19 Sep 2013 09:46am EDT 

Sunshine Heart Inc announced the pricing of its previously announced offering of 3,810,000 shares of its common stock at a price to the public of $10.50 per share in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Piper Jaffray & Co. and Cowen and Company, LLC are acting as joint book-running managers and Lazard Capital Markets LLC is acting as co-lead manager for the offering. Craig-Hallum Capital Group and Northland Securities, Inc. are acting as co-managers for the offering. In addition, Sunshine Heart has granted the underwriters a 30-day option to purchase up to an additional 571,500 shares solely to cover over-allotments, if any. The offering is expected to close on or about September 24, 2013, subject to customary closing conditions. Sunshine Heart intends to use the net proceeds from the offering for general corporate purposes, including its ongoing U.S. pivotal trial and post-market EU study, initial commercialization of the C-Pulse Heart Assist System, or C-Pulse System, in the EU, and product development activities.  Full Article

Sunshine Heart Inc Announces Proposed Public Offering of Common Shares
Wednesday, 18 Sep 2013 04:01pm EDT 

Sunshine Heart Inc announced that it has commenced an underwritten public offering of its common stock pursuant to its effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Piper Jaffray & Co. and Cowen and Company, LLC are acting as joint book-running managers and Lazard Capital Markets LLC is acting as co-lead manager for the offering. Craig-Hallum Capital Group and Northland Securities, Inc. are acting as co-managers for the offering. In addition, Sunshine Heart expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering solely to cover over-allotments, if any. The offering is subject to customary conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including its ongoing U.S. pivotal trial and post-market EU study, initial commercialization of the C-Pulse Heart Assist System, or C-Pulse System, in the EU, and product development activities.  Full Article

Sunshine Heart Inc Announces Removal From Official List
Sunday, 5 May 2013 06:55pm EDT 

Australian Securities Exchange announced that Sunshine Heart, Inc. with security code of SHC will be removed from the official list of ASX Limited as from the close of trading on May 6, 2013, at the request of the Company in accordance with listing rule 17.11.  Full Article

Sunshine Heart Inc Closes Public Offering of Common Shares
Tuesday, 16 Apr 2013 12:56pm EDT 

Sunshine Heart Inc announced the closing of its previously announced underwritten public offering of 2,875,000 shares of its common stock, which includes the full overallotment of 375,000 shares, at a price to the public of $5.25 per share. The net proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total approximately $14.0 million. Canaccord Genuity acted as sole book-running manager for the offering. Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including its ongoing clinical trial and product development activities.  Full Article

Sunshine Heart Inc Prices $13.1 Million Public Offering Of Common Shares
Thursday, 11 Apr 2013 06:32pm EDT 

Sunshine Heart Inc announced the pricing of its previously announced offering of 2,500,000 shares of its common stock at a price to the public of $5.25 per share in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Canaccord Genuity is acting as sole book-running manager for the offering. In addition, Sunshine Heart has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares solely to cover over-allotments, if any. The offering is expected to close on or about April 16, 2013. Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including its ongoing clinical trial and product development activities.  Full Article

Sunshine Heart Inc Prices $13.1 Million Public Offering Of Common Shares
Thursday, 11 Apr 2013 09:21am EDT 

Sunshine Heart Inc announced the pricing of previously announced offering of 2,500,000 shares of common stock at a price to the public of $5.25 per share in an underwritten public offering pursuant to effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Canaccord Genuity is acting as sole book-running manager for the offering. In addition, Sunshine Heart has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares solely to cover over-allotments, if any. The offering is expected to close on or about April 16, 2013. Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including ongoing clinical trial and product development activities.  Full Article

Sunshine Heart Inc Proposes Public Offering of Common Shares
Wednesday, 10 Apr 2013 04:37pm EDT 

Sunshine Heart Inc announced that it has commenced an underwritten public offering of its common stock pursuant to its effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Canaccord Genuity is acting as sole book-running manager for the offering. In addition, Sunshine Heart expects to grant the underwriter a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering solely to cover over-allotments, if any. The offering is subject to customary conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Sunshine Heart currently intends to use the net proceeds for general corporate purposes, including its ongoing clinical trial and product development activities.  Full Article

Sunshine Heart Inc To Delist From The Australian Securities Exchange
Tuesday, 29 Jan 2013 05:52pm EST 

Sunshine Heart Inc announced that it intends to delist from the official list of the ASX during the first half of the 2013 calendar year. Sunshine Heart seek removal from the official list of the ASX for the following reasons: low liquidity in trading in CHESS Depositary Interests (CDIs) on ASXcompared to common shares on NASDAQ (an average of only 4.2% of all trades in the Company's securities were executed through ASX in the fourth quarter ended December 31, 2012); and the CDIs held on the Australian register represent only 18.9% ofSunshine Heart's total issued capital (or only 17.4% if you exclude the directors' holdings and shareholders with holdings of greater than 5%) at January 18, 2013. The common shares of Sunshine Heart will continue to be listed on NASDAQ.  Full Article

Sunshine Heart Inc Into $25 Million Common Stock Purchase Agreement With Aspire Capital Fund, LLC
Tuesday, 15 Jan 2013 06:20pm EST 

Sunshine Heart Inc announced that it has entered into a common stock purchase agreement with Aspire Capital Fund, LLC. Under the Purchase Agreement, Aspire Capital has committed to purchase up to $25 million of Sunshine Heart's common stock from time to time as directed by the Company over two years at prices based on the market price at the time of each sale after the SEC declares a registration statement effective relating to the transaction. Upon commencement of the funding under the Purchase Agreement, Aspire Capital has also agreed to make an initial investment of $1 million at a price equal to the average of the closing prices of the common stock for the five business days prior to such purchase. Key aspects of the Purchase Agreement include: Sunshine Heart will control the timing and amount of any sales of common stock to Aspire and will know the sales price before directing Aspire to purchase shares; Aspire has no right to require any sales by the Company, but is obligated to make purchases as the Company directs, in accordance with the terms of the Purchase Agreement; There are no limitations on use of proceeds, financial covenants, restrictions on future financings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement; The Purchase Agreement may be terminated by Sunshine Heart at any time, at its discretion, without any additional cost or penalty.  Full Article

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