TEWKSBURY, Mass.--(BUSINESS WIRE)--Cambridge Heart, Inc. (OTCBB: CAMH), today announced that the investors in the December 2009 Series D Convertible Preferred Stock financing exercised all of the outstanding long-term warrants. The exercise of the long-term warrants, which were called on May 5, 2010, generated a total of $962,000 in proceeds, and resulted in the issuance of 6,775,611 shares of common stock. In addition, certain of these investors also exercised their short-term warrants, generating an additional $457,000 in capital, and resulting in the issuance of 4,268,294 shares of common stock. Further, additional short-term warrants to purchase 7,024,392 shares of common stock, which would generate proceeds of $752,000, remain outstanding and expire on December 23, 2010. The shares of common stock issued by the Company as a result of the exercise of warrants are subject to customary restrictions on the transfer of securities issued in a private placement under the federal securities laws.
