January 27, 2010
Framingham Device Firm Offers Shares
By Matthew L. Brown
Framingham-based medical device manufacturer HeartWare International Inc. said it is offering 1.5 million shares of its common stock.
The offer includes an option for underwriters to purchase an additional 225,000 shares to cover over-allotments.
HeartWare said it will use the proceeds of the sale for general corporate purposes and as working capital.
The sale is being managed by J.P. Morgan Securities Inc. The company filed a shelf registration statement for the offering in December. The registration was declared effective last Wednesday.
HeartWare develops and manufactures miniature implantable heart pumps for patients suffering from advanced heart failure.
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