ATSI to Raise $16 Million in Fresh Capital from PIPE
In early trading today, shares of ATS Medical, Inc. (NASDAQ: ATSI) were down 4 cents at $2.17 per share on light volume. Recent company news includes a private placement for $16.25 million announced last Friday, March 16th. ATS Medical plans to issue 8,125,000 shares of common stock at a price of $2.00 per share, together with warrants to purchase approximately 3,250,000 shares at an exercise price of $2.40 per share. The shares were priced at a discount of 14 cents to the closing price of $2.14 on March 15, 2007. The warrant coverage in the private placement is 40 percent,…