World Heart Corp -
World Heart files share offering
World Heart Corp
WHT
Shares issued 12,284,860
1999-04-13 close $19.5
Tuesday Apr 13 1999
An anonymous director reports
World Heart has filed a registration statement in the United States and
a short form preliminary prospectus in Canada under the Canada/U.S.
multijurisdictional disclosure system in connection with a primary
offering of two million shares by the company, and a secondary
offering of 300,000 shares by a selling shareholder. In addition,
WorldHeart and the selling shareholder will grant to the underwriters
options to purchase an additional 300,000 and 45,000 shares
respectively to cover overallotments.
The secondary offering of shares is being made by Michael C.J.
Cowpland, a director of the company. After selling a maximum of
345,000 shares, Dr. Cowpland will continue to hold 1,207,833 shares
of WorldHeart. Dr. Cowpland has agreed with the underwriters that he
will not offer for sale any additional shares of the company for 12
months following completion of the secondary offering.
WorldHeart intends to use the net proceeds of this offering for
continuing research and development activities, product development
and commercialization, including costs of clinical trials for its
HeartSaverVAD system and related commercialization activities.
The lead manager of the offering is Merrill Lynch Canada Inc. and the
co-managers are ScotiaMcLeod Inc. and CIBC Wood Gundy Securities
Inc.
A registration statement relating to the shares has been filed with the
U.S. Securities and Exchange Commission but has not yet become
effective. The shares may not be sold nor may offers to buy the shares
be accepted prior to the time the registration statement becomes
effective.
(c) Copyright 1999 Canjex Publishing Ltd.
canada-stockwatch.com |
