Sunshine Heart, Inc. (SSH) announced the closing of its previously announced underwritten public offering of 2.9 million shares of its common stock, which includes the full overallotment of 375,000 shares, at a price to the public of $5.25 per share.
The company stated that the proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total about $14.0 million.
Sunshine Heart currently plans 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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