Irvine, Calif.-based Biolase Inc., a provider of dental lasers, entered into a securities purchase agreement with institutional investors to purchase approximately $6.9 million of its common stock in a registered direct offering priced at-the-market under Nasdaq rules and warrants to purchase common stock in a concurrent private placement. The combined purchase price for one share of common stock and warrant to purchase one share of common stock will be $0.64. The company as agreed to sell 10,800,000 shares of common stock. In a private placement, which will be consummated concurrently with the offering, Biolase also has agreed to issue warrants to purchase up to an aggregate of 10.8 million shares of common stock. The warrants will be immediately exercisable, will expire 5.5 years from the date of issuance and will have an exercise price of $0.515 per common share. The offering is expected to close on or about June 10, 2020. Maxim Group LLC, The Benchmark Co. LLC and Colliers Securities LLC are acting as co-placement agents for the offering.
San Clemente, Calif.-based Glaukos Corp., an ophthalmic medical technology and pharmaceutical company focused on therapies for the treatment of glaucoma, corneal disorders and retinal diseases, said it intends to offer $200 million aggregate principal amount of convertible senior notes due 2027 in a private offering. Glaukos expects to grant to the initial purchasers of the notes a 13-day option to purchase up to an additional $30 million aggregate principal amount of the notes. The company plans to use the net proceeds from the offering to pay the cost of certain capped call transactions and the
Tel Aviv, Israel-based Inspiremd Inc., the developer of the Cguard Embolic Prevention System (EPS) for the prevention of stroke caused by carotid artery disease, reported the closing, on June 5, 2020, of its $11.5 million follow-on underwritten public offering, which included $1.5 million from the exercise, in full, by the underwriter of its over-allotment option for the offering. The company issued 25,555,500 shares of common stock or common stock equivalents, along with an equivalent number of series F warrants to purchase common stock, in units, at a price to the public of $0.45 per unit. Each series F warrant is exercisable for one share of common stock at an exercise price of $0.495 per share. A.G.P. / Alliance Global Partners served as the sole book-running manager for the offering. Inspiremd plans to use the net proceeds of this offering, estimated at $10.7 million, for research and development, sales and marketing, working capital and other general corporate purposes.
Nanobiotix SA, of Paris, a clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, received financing approval from HSBC and Bpifrance for a total of €10 million (US$11.3 million) in the form of state-guaranteed loans. Each individual lender will provide a loan of €5 million with fixed interest rates of 0.25% and 1.75% per annum. The French government will guarantee 90% of the amounts due. Each loan has an initial term of one year. Repayment of the principal amount due may be further deferred at the option of the company until June 2025.
Toronto-based Titan Medical Inc., a company focused on the development of a robotic surgical system for application in minimally invasive surgery, entered definitive agreements with a single health care-focused institutional investor that provide for the purchase and sale of 18 million common shares of the company at a per share purchase price of $1.00 per common share and 9 million common share purchase warrants, in a registered direct offering priced at-the-market under Nasdaq rules, resulting in total gross proceeds of approximately $18 million. Each whole warrant is exercisable to purchase one common share at an exercise price of $1 per common share for a period of four years following the date of closing of the offering. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.