By Devika Patel
Knoxville, Tenn., Feb. 17 - NMT Medical, Inc. said it completed a private placement of stock for approximately $5.8 million.
The company sold approximately 2.7 million common shares at $2.15 per share. Investors also received warrants for 2.1 million shares. Each warrant is exercisable at $2.90.
Proceeds will be used for clinical trials and development programs.
The Boston-based medical technology company makes instruments and implants used in heart surgery.
| Issuer: | NMT Medical, Inc.
|
| Issue: | Common stock
|
| Amount: | $5.8 million (approximate)
|
| Shares: | 2.7 million (approximate)
|
| Price: | $2.15
|
| Warrants: | For 2.1 million shares
|
| Warrant strike price: | $2.90
|
| Settlement date: | Feb. 17
|
| Stock symbol: | Nasdaq: NMTI
|
| Stock price: | $2.06 at close Feb. 16
|
| Market capitalization: | $27.4 million
|
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