Key Developments: Sunshine Heart Inc (SSH.W)
5.95USD
21 May 2013
$0.26 (+4.57%)
$5.69
$5.90
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$5.81
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Latest Key Developments (Source: Significant Developments)
Sunshine Heart Inc Announces Removal From Official List
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
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
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
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
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
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
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
Sunshine Heart Inc Announces Conditional Approval Of IDE From FDA for C-Pulse Heart Assist System
Sunshine Heart Inc announced that it has received conditional approval from the FDA for an Investigational Device Exemption (IDE) for its flagship C-Pulse Heart Assist System. Full Article
Sunshine Heart Inc Appoints New Chairman
Sunshine Heart Inc announced that John Erb as the Company's new Chairman of the Board. He replaces Nick Callinan, who has served as a Director of SHI since mid 2008 and was appointed Chairman in October 2008. Full Article
Sunshine Heart Inc Announces Closing Of Public Offering Of Common Stock
Sunshine Heart Inc announced the closing of its previously announced underwritten public offering of 2,875,000 shares of its common stock at a price to the public of $7.00 per share. The net proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total approximately $18.0 million. Canaccord Genuity acted as the sole book-running manager for the offering. Lazard Capital Markets LLC, Cowen and Company, LLC, Craig-Hallum Capital Group LLC, and Northland Capital Markets acted as co-managers. Full Article
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