New Issue: Corautus raises $29 million in upsized follow-on of 7.5 million shares at $3.85 each

By Ronda Fears

Memphis, March 10 - Corautus Genetics, Inc. raised roughly $29 million from an upsized follow-on offering of 7.5 million shares off the shelf priced at $3.85 each, discounted from Thursday's closing level of $4.20, via bookrunner Lazard Capital Markets and joint lead manager Jefferies & Co., Inc.

The deal was boosted from 6.5 million shares.

Atlanta-based Corautus is focused on gene therapy products for the treatment of cardiovascular and peripheral vascular disease with its Vascular Endothelial Growth Factor-2 (VEGF-2) gene. Proceeds are earmarked for working capital and to fund clinical trials and manufacturing costs.

Issuer:	Corautus Genetics, Inc.
Issue:	Follow-on stock offering
Gross proceeds:	$28.875 million
Net proceeds:	$26.5 million
Shares:	7.5 million shares, up from 6.5 million
Greenshoe:	1.1 million shares, up from 975,000 shares
Price:	$3.85 per share
Bookrunner:	Lazard Capital Markets
Joint lead manager:	Jefferies & Co., Inc.
Pricing date:	March 9
Settlement date:	March 15
Stock symbol:	Nasdaq: VEGF
Stock price:	$4.20 at close March 9

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