New Issue: Endocare wraps private placement of stock for $15.6 million

By Sheri Kasprzak

Atlanta, March 14 - Endocare Inc. said it has closed a private placement of stock for $15,609,997.

The company sold 5,635,378 shares at $2.77 each.

The investors also received warrants for 1,972,374 shares at $3.50 each and 1,972,374 shares at $4.00 each, exercisable for five years.

The offering was placed through a syndicate of underwriters led by Greenway Capital Ltd.

Managers of the company, including chairman and chief executive officer Craig Davenport and president and chief operating officer William Nydam, purchased a total of $1 million of the private placement.

Based in Irvine, Calif., Endocare develops technologies for tissue and tumor ablation.

Issuer:	Endocare Inc.
Issue:	Stock
Amount:	$15,609,997
Shares:	5,635,378
Price:	$2.77
Warrants:	For 3,944,748 shares
Warrant expiration:	Five years
Warrant strike price:	$3.50 for 1,972,374 shares; $4.00 for 1,972,374 shares
Underwriter:	Greenway Capital Ltd.
Settlement date:	March 11
Stock price:	$3.00 at close March 11

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