By Laura Lutz
Des Moines, Dec. 13 - North American Scientific, Inc. arranged a $15.5 million private placement of stock and warrants, according to an 8-K filing with the Securities and Exchange Commission.
The company plans to sell 63,008,140 common shares at $0.246 apiece along with warrants for 3,150,407 shares.
The warrants are exercisable at $0.246 for seven years.
Three Arch Partners IV, LP and affiliated funds will invest $10 million; SF Capital Partners Ltd. will invest $2.5 million; and CHL Medical Partners III, LP and an affiliated fund will invest $3 million.
Settlement depends on shareholder approval.
CIBC World Markets Corp. is the placement agent.
North American Scientific is a radiation technology company based in Chatsworth, Calif.
| Issuer: | North American Scientific, Inc.
|
| Issue: | Stock
|
| Amount: | $15.5 million
|
| Shares: | 63,008,140
|
| Price: | $0.246
|
| Warrants: | For 3,150,407 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.246
|
| Agent: | CIBC World Markets Corp.
|
| Investors: | Three Arch Partners IV, LP and affiliates (for $10 million); SF Capital Partners Ltd. (for $2.5 million); and CHL Medical Partners III, LP and an affiliate (for $3 million)
|
| Pricing date: | Dec. 12
|
| Stock symbol: | Nasdaq: NASI
|
| Stock price: | $0.35 at close Dec. 13
|
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