Sunshine Heart (SSH) Prices 2.5M Offering at $5.25/Share

April 11, 2013 9:22 AM EDT
Sunshine Heart, Inc. (NASDAQ: SSH) announced the pricing of its previously announced offering of 2,500,000 shares of its common stock at a price to the public of $5.25 per share in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). Canaccord Genuity is acting as sole book-running manager for the offering. In addition, Sunshine Heart has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares solely to cover over-allotments, if any. The offering is expected to close on or about April 16, 2013, subject to customary closing conditions.

Sunshine Heart currently intends to use the net proceeds from the offering for general corporate purposes, including its ongoing clinical trial and product development activities.

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