MicroMed Announces Closing Of $15.425 Million Financing
6/20/2006 3:02:36 PM
HOUSTON--(BUSINESS WIRE)--June 19, 2006--MicroMed Cardiovascular, Inc. (OTCBB:MMCV - News) is pleased to announce that it has completed an equity financing through a private placement of $15.425 million of its common stock and warrants to purchase its common stock to institutional investors. Hunter World Markets, Inc. of Beverly Hills, California acted as the company's sole placement agent. The proceeds of the transaction are expected to support continued clinical studies and research associated with the Company's DeBakey VAD®, expansion of sales and marketing activities in international markets where the DeBakey VAD has received CE Mark approval, and for general corporate purposes. The shares of common stock sold, and warrants issued, in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States without a registration with the Securities and Exchange Commission (SEC) or an applicable exemption from the registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issued in the private placement and the shares of common stock issued upon exercise of the warrants.