A Medical Device Daily
Stereotaxis (St. Louis) reported that the company has priced an offering of 5 million shares of its common stock at a price of $12 per share, resulting in gross proceeds to the company of about $60 million, subject to the deduction of transaction-related fees, commissions and expenses.
Deutsche Bank Securities was lead managing underwriter in the transaction, and A.G. Edwards & Sons and HSBC Securities were co-managers.
The transaction is expected to close on Wednesday, subject to satisfaction of customary closing conditions.
Stereotaxis makes an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Stereotaxis System is designed to allow physicians to navigate catheters and guidewires through the blood vessels and chambers of the heart to treatment sites.
Intermagnetics General (Latham, New York) reported that its board of directors has declared a three-for-two split of its common stock. The split, to be completed in the form of a 50% stock dividend, will be payable on Feb. 21 to shareholders of record on Feb 6. Shareholders will receive one additional share of Intermagnetics' common stock for every two shares held on the record date.
As of Dec. 27, 2005, Intermagnetics had about 28 million shares outstanding.
Intermagnetics develops superconducting materials, high-field magnets, and medical systems worldwide. The company operates in three segments: magnetic resonance imaging, medical devices and energy technology.