Wednesday, February 3, 2010

HeartWare completes $80M offering

By Mass High Tech staff

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Framingham medical devices firm HeartWare International Inc. has completed its public stock offering, pulling in a total of $70.9 million.

The company sold almost 1.8 million shares of common stock, including an additional 230,595 shares to cover over-allotments, at $35.50 per share. HeartWare announced the pricing of the stock sale last week.

Net proceeds from the stock offering will be directed to working capital and general corporate purposes.

J.P. Morgan Securities Inc. served as the sole book-running manager of the offering, with Canaccord Adams, Lazard Capital Markets and Wedbush PacGrow Life Sciences as the co-managers.

HeartWare (Nasdaq: HTWR) makes miniature implantable cardiac pumps, called left ventricular assist devices, to treat patients suffering from advanced heart failure.