NEW BUSINESS Mosaic Co., Plymouth, said it is beginning front-end engineering and design work on a potential $700 million ammonia product plant at the company's existing Faustina site in St. James Parish, La.
DEBT AND EQUITIES Kips Bay Medical Inc., Plymouth, announced the pricing of an underwritten public offering of 10 million common shares of its common stock for total estimated gross proceeds of $6.5 million. The offering is expected to close on Dec. 27. Kips Bay Medical intends to use the net proceeds to seek regulatory approval to market its eSVS Mesh, to develop and test additional applications of its eSVS Mesh, and for working capital and general corporate purposes.
PERSONNEL MOVES SurModics Inc., Eden Prairie, named Andy LaFrence vice president of finance and chief financial officer, effective Feb. 12. LaFrence, most recently CFO of CNS Therapeutics, which was recently acquired by Covidien, will succeed Timothy Arens, who currently serves as interim CFO. Arens will become vice president of corporate development and strategy.
