Neovasc to price public offering of 6.34 million common shares

Proceeds to be used for feasibility study, general corporate purposes

By Devika Patel

Knoxville, Tenn., Jan. 26 – Neovasc Inc. said it plans to sell 6.34 million common shares in a public sale with a 30-day greenshoe of 1.2 million additional shares. Neovasc’s directors, officers and employees also plan to offer 1.66 million shares in a secondary sale.

Leerink Partners LLC is the bookrunning manager. Canaccord Genuity Inc. and JMP Securities LLC are co-lead managers, and Ladenburg Thalmann & Co. Inc. is the co-manager.

Settlement is expected June 21.

Proceeds will be used to complete the TIARA-I feasibility study, initiate a U.S. Investigational Device Exemption Study for Tiara, develop and refine Tiara, for commercialization of Reducer in Europe, to initiate a U.S. Investigational Device Exemption Study for Reducer and for general corporate purposes.

Neovasc is a Richmond, B.C.-based medical device company.

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