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Aspect Medical nets $105.6mm in convertible debt financing
10 Jul 2007
Brain monitoring device maker Aspect Medical Systems has netted $105.6mm by selling 2.5% seven-year senior notes to institutional investors under Rule 144A. The notes convert into stock at a rate of 52.4294 shares per $1k notes, or $19.07 per share. (The shares averaged $16.01 at announcement.) Backers also received an option to purchase another $15mm in notes. Aspect plans to use the money to buy back some of its shares sold to Boston Scientific through a 2002 deal that was recently terminated.
Monitoring Equipment & Devices
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