August 18, 2009
Framingham Firm To Offer Stock Worth $60M
By Matthew L. Brown
Framingham-based HeartWare International Inc. said it will raise about $60 million with the sale of 2.7 million shares of common stock.
The transaction is subject to the approval of the company's shareholders and $30.5 million of the proceeds will be held in escrow until that approval is granted. The company will also have to pay fees and expenses related to the transaction.
Shareholder approval is expected during a meeting scheduled for Dec. 15.
HeartWare makes implantable heart pumps designed to treat patients suffering from heart failure.
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