Were you aware of the private placement in 2006?
Announced 06/11/07
20.00M for Acusphere Inc.
Private Placement
Acusphere Inc. (NasdaqNM: ACUS) announced a registered direct offering of 7,694,220 units at a price of $2.60 per unit for gross proceeds of up to $20,004,972 from certain institutional investors, on June 11, 2007. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder to purchase 0.4 common shares at an exercise price of $3.10 per share. The warrants will be exercisable between December 15, 2007 and June 15, 2012. Cowen and ... Company, LLC will act as the exclusive placement agent to the company. The company will pay the placement agent a fee equal to 6% of the gross proceeds of the financing equal to approximately $1,200,000, and will pay estimated expenses related to the transaction equal to $150,000. Goodwin Procter, LLP will serve as the legal advisor to the company. Thelen Reid Brown Raysman & Steiner LLP will serve as the legal advisor to the placement agent. The company expects to receive net proceeds from the transaction of approximately $18,650,000, after deducting placement agent fees and estimated expenses of the financing. The transaction is expected to close on June 15, 2007.
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ACUS's price was down 9.62% after the transaction was announced on 06/11/07.
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