News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Power Medical Interventions Announces Closing of IPO and Exercise of Underwriters' Over-Allotment Option



11/2/2007 9:10:26 AM

LANGHORNE, Pa., Nov. 2, 2007 (PRIME NEWSWIRE) -- Power Medical Interventions(r), Inc. ("PMI") (Nasdaq:PMII), a leader in developing and commercializing Intelligent Surgical Instruments, today announced that it has closed its previously announced initial public offering of 3,850,000 shares of its common stock and that the underwriters of the offering have fully exercised their over-allotment option, purchasing an additional 577,500 shares of common stock at a price of $11.00 per share. Including the over-allotment, the company sold 4,427,500 shares in the offering, resulting in net proceeds of approximately $41.8 million after deducting the underwriting discounts and commission and the estimated offering expenses.

Read at GlobeNewswire


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES