Hansen Medical raises up to US $98 mln in equity financing

July 31
12:51 PM 2013

Hansen  Medical revealed on Wednesday that it closed about US $98 million in capital raising led by investors Oracle Investment Management. Members of the Hansen board, Jack W. Schuler, and other existing as well as new investors also participated in the round.

The money will be utilized to fund Hansen's plan to fully commercialize its Magellan Robotic System and develop market for its Sensei Robotic System.

According to the agreement, Hansen Medical will get US $35 million after the sale of common stock priced at US $1.23 each. The investors in turn will acquire warrants to buy about 34 million additional shares of common stock at US $0.125 each.

If all the warrants, distributed in three tranches, are exercised, it will yield a gross receipt of around US $54 million.

The Series A warrant is priced at US $1.23 per share, while the Series B and Series C are offered at US $1.50 as the exercise price.

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