A Medical Device Daily
Signalife (Los Angeles) reported that the company's previously-disclosed reverse stock split (Medical Device Daily, Sept. 11, 2008) has been effected as of Sept. 19, following the close of the OTCBB market.
The exact reverse ratio, based upon a post-split target price of $45 per share based upon the closing price for Signalife's common stock as quoted by the OTCBB on Sept. 19, is one-for-4,500. Fractional shares will be rounded up to the next full share. Post-split quotations and trades of Signalife common shares commenced on the OTCBB upon the opening of the market on Monday under the new symbol SGAL.
The reverse stock split has been structured in the form of a mandatory share exchange, meaning that each shareholder will be required to first exchange his or her certificate with the company's stock transfer agent in order to change title incident to any sale or other transaction.
Signalife is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. It uses its technology to design and develop devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease.
Omega Healthcare Investors (Timonium, Maryland) reported that it closed an underwritten public offering of 6 million shares of its common stock at a price to the public of $16.37 per share.
It received about $97 million in net proceeds from the sale of the shares, after deducting underwriting discounts and estimated offering expenses. The company said it intends to use the net proceeds of the offering to repay indebtedness outstanding under its senior revolving credit facility and for working capital and general corporate purposes.
UBS Securities was the book-running manager for the offering, with Stifel, Nicolaus & Co. as co-manager.
Omega is a real estate investment trust investing in and providing financing to the long-term care industry. As of June 30, Omega owned or held mortgages on 252 healthcare facilities, located in 29 states and operated by 26 third-party operators.