Azimuth was active yesterday, committed funding for dvax and acus with small-discount shares. Not bad deals for dvax/acus assuming they can keep azimuth from shorting.
Dynavax Secures Equity Financing Commitment of Up to $30 Million
Thursday August 31, 4:30 pm ET
BERKELEY, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Dynavax Technologies Corporation (Nasdaq: DVAX - News) announced that the company has secured an equity financing commitment of up to $30 million from Azimuth Opportunity Ltd. Acqua Capital Management is an advisor to Azimuth Opportunity. During the 18-month term of the equity financing commitment, Dynavax may sell registered shares of its newly-issued common stock to Azimuth Opportunity Ltd. at a small, pre-negotiated discount to the market price. Dynavax will determine, at its sole discretion, the timing and amount of any sales of its stock, subject to certain conditions.
Acusphere Receives Equity Financing Commitment
Thursday August 31, 5:32 pm ET
WATERTOWN, Mass.--(BUSINESS WIRE)--Aug. 31, 2006--Acusphere, Inc. (NASDAQ: ACUS - News), today announced that the Company has received a commitment from Azimuth Opportunity Ltd. for the purchase of up to 5,762,966 shares of its common stock, which shares in the aggregate, based upon a closing price on August 31, 2006 of $3.39 per share, have an approximate market value of $19.5 million. Subject to the terms and conditions of a purchase agreement between Acusphere and Azimuth Opportunity, over the next eighteen months, Acusphere may sell up to 5,762,966 registered shares of its common stock, at its discretion, to Azimuth Opportunity at a discount from market price. No shares of Acusphere common stock were issued in connection with entering into this arrangement, and no shares may be issued until certain conditions have been satisfied, as specified in the agreement. Acusphere has no minimum commitment to sell shares under the agreement. |
