Kips Bay Medical Inc., Maple Grove, announced the first implant of eSVS Mesh on Sept. 4 at the Emory Heart & Vascular Center in Atlanta. This implant was performed as part of the Kips Bay Medical eMESH I clinical feasibility trial being conducted for the U.S. Food and Drug Administration in a number of cardiac surgery centers in Europe and the United States. The procedure was performed by Dr. John Puskas, who is a principal investigator for the eMESH I clinical feasibility trial and founder of the Cardiothoracic Surgery Clinical Research Unit within the Emory Heart & Vascular Center.
DEBT AND EQUITIES
Stratasys Ltd., Eden Prairie and Rehovot, Israel, has closed its previously announced public offering of 5.2 million ordinary shares at a public offering price of $93 per share, with net offering proceeds to Stratasys about $462.8 million, after deducting underwriting discounts and commissions and other estimated offering expenses. J.P. Morgan acted as sole book-running manager for the offering, and Piper Jaffray, Morgan Stanley, BofA Merrill Lynch, and Needham & Co. acted as co-managers for the offering.
Dolan Co., Minneapolis, has adopted a shareholder rights plan for the preservation of the company’s net operating losses in relation to the potential limitations under Section 382 of the Internal Revenue Code. By adopting the rights agreement, the company said it is helping to preserve the value of certain deferred tax benefits, including those generated by net operating losses. The company currently estimates its net operating losses to be at least $120 million, due primarily to the NDeX divestiture transactions it has completed this year. In general, companies may “carry forward” net operating losses in certain circumstances to offset current and future taxable income, which reduces federal and state income tax liability, subject to certain requirements and restrictions.
CyberOptics Corp., Golden Valley, appointed Subodh Kulkarni executive chairman of its board of directors. Kulkarni is the principal owner and chief executive officer of Prism Computational Sciences.