Navigation Links
World Heart Corp. Completes $7.3 Million Private Placement
Date:1/26/2010

SALT LAKE CITY, Jan. 26 /PRNewswire-FirstCall/ -- World Heart Corporation ("WorldHeart"; Nasdaq: WHRT), a developer of mechanical circulatory systems, announced today that it has completed its previously announced private placement of common stock and warrants to purchase common stock. Gross proceeds from the offering were approximately $7.3 million. Proceeds from the private placement are expected to be used for general corporate and working capital purposes.

WorldHeart issued an aggregate of 1,418,726 newly-issued shares of common stock and warrants to purchase up to 2,837,452 additional shares of common stock. WorldHeart expects to receive net proceeds of approximately $7.1 million after deducting offering expenses.

The financing was led by existing investors, Special Situations Funds, Venrock and New Leaf Venture Partners, and included several new investors. Thomas Weisel Partners LLC acted as Placement Agent on the private placement.

In connection with the financing, WorldHeart has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act covering the registration of the common stock and the shares underlying the warrants acquired at closing within 60 days after closing.

This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities.

For additional information, please refer to WorldHeart's current report on Form 8-K filed with the Securities and Exchange Commission with respect to this transaction.

About WorldHeart

WorldHeart is a developer of mechanical circulatory support systems headquartered in Salt Lake City, Utah. WorldHeart's registered office is in Delaware, USA.

Forward-Looking Statements

Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements relating to the proposed use of proceeds, of the private placement, increase in shareholder value, access to investment capital, and the growth of WorldHeart's overall business, as well as other statements that can be identified by the use of forward-looking language, such as "believes," "feels," "expects," "may," "will," "should," "seeks," "plans," "anticipates," or "intends" or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: risks related to certain undertakings in connection with the private placement, WorldHeart's need for additional capital in the future; and other risks detailed in WorldHeart's filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-K for the year ended December 31, 2008 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009.

SOURCE World Heart Corporation

RELATED LINKS
http://www.worldheart.com

'/>"/>

SOURCE World Heart Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Georgia Reproductive Specialists Participates in Largest-Ever In Vitro Fertilization Clinical Trial in the World
2. Aspirin Named 8th World Wonder by Majority of Americans
3. Poniard Pharmaceuticals to Present Updated Results of Picoplatin Phase 2 Small Cell Lung Cancer Trial at 12th World Conference on Lung Cancer
4. Pharmacopeia Assists the World Health Organization in the Discovery of Novel Therapeutics for the Treatment of Malaria
5. A Worldwide Phase III Clinical Trial Seeks U.S. Patients to Explore Investigational Drug Phenoxodiol
6. New Study Presented at WorldSleep 2007 Demonstrates Ramelteon Has Sustained Efficacy Over Six Months in Adults With Chronic Insomnia
7. Genasense(R) Data in Melanoma to be Presented in Opening Session at First Worldwide Melanoma Center Meeting of the European Association of Dermato-Oncology
8. WorldHeart Announces Further Milestone in Miniaturized Assist Pump Development
9. Oncology Drugs Development Update - Worldwide Markets and Forecasts of Approved EGFr/HEr2 Inhibitors, Treatment Costs, Pathway Analysis, Current and Expanded Clinical Indications, and Novel Agents in Development
10. Pivotal Ustekinumab (CNTO 1275) Phase 3 Data to Debut at World Congress of Dermatology Meeting
11. Video: The Arizona Heart Institute Announces the Largest Worldwide Experience with Endoluminal Grafting to Treat Thoracic Aortic Aneurysms and Related Pathologies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... YORK , December 2, 2016 ... Braces & Support) is Expected to Gain a Significant Market ... to Orthopedic Ailments  ... , According to ... Study on Medical Implants Sterile Packaging: Clamshell Product Type Segment ...
(Date:12/2/2016)... On Thursday, the NASDAQ Composite and ... the Dow Jones Industrial Average managed to stay in green. ... which prompted Stock-callers this morning to look at the performances ... NUVA ), Smith & Nephew PLC (NYSE: SNN ... Cesca Therapeutics Inc. (NASDAQ: KOOL ). You can ...
(Date:12/2/2016)... -- The concept of rare diseases and the idea that ... has been taking shape in Europe ... initiatives related to orphan medicinal products have been emerging at ... states individually. Many member states in the EU have led ... medicinal products, the result of which took the shape of ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... Mediaplanet’s ... ostomy patients, standing as living proof that attitude and determination can combine into ... issues that spike around the holidays. This campaign will offer patients a new-found ...
(Date:12/2/2016)... ... 02, 2016 , ... Mediaplanet is proud to announce the ... the innovative treatments, therapeutic technologies, and revolutionized nutrition that are helping patients and ... 6 years in the last 3 decades,” says Dr. Valentine Fuster, a world-renowned ...
(Date:12/2/2016)... (PRWEB) , ... December 02, 2016 , ... ... veterinarian diagnostic imaging systems and the first company to offer robotic ... a Heart at their tradeshow booth # 941 for the American Association of ...
(Date:12/2/2016)... Abilene, Texas (PRWEB) , ... December 02, 2016 , ... ... article that delves into how this current generation fits into Bible Prophecy. Yisrayl says ... lists various facts pointing to this conclusion, showing how the details line up exactly ...
(Date:12/2/2016)... , ... December 02, 2016 , ... ... meals to needy individuals and families from eight different sites throughout Miami-Dade and ... Day. Over 1,000 volunteers worked very hard on Thanksgiving morning by putting together ...
Breaking Medicine News(10 mins):