HeartWare Closes Stock Offering
Medical device manufacturer HeartWare International of Framingham has completed the public offering of 1.725 million shares of common stock that it filed with the U.S. Securities and Exchange Commission in December 2010, the company announced.
HeartWare said it intends to use the net proceeds from the offering for working capital and general corporate purposes, as well as research and development, expansion of manufacturing, sales and marketing activities, and capital investments in information systems, facilities and infrastructure. It will also use the added capital for general and administrative support functions to support growth and the acquisition or licensing of or investment in complementary products, technologies or businesses.
HeartWare International develops and manufactures miniaturized implantable heart pumps, or ventricular assist devices, to treat certain patients who suffer from advanced heart failure.
The stock offering was priced at $86.45 per share.
In its most recent fiscal quarter, which ended Dec. 31, HeartWare reported a 42-percent jump in revenue to $32.7 million, which helped boost its overall revenue for the year to $110.9 million, an increase of 34 percent over 2011.
But the company lost just over $21 million during the quarter – down slightly from the same quarter a year ago – bringing its annual loss to $87.7 million. That was up from a loss of $55.1 million in 2011.
Read more
WBJ Web Partners
Most Recent
Most Recent
0 Comments