NAS raises $24 million

AuntMinnie.com staff writers
Jun 6, 2006

Radiation therapy firm North American Scientific has signed a binding agreement to raise $24 million in a private placement of common stock and the concurrent issuance of warrants for the purchase of common stock.

Three Arch Partners is leading the private placement and will invest $10 million, according to the Chatsworth, CA-based firm. Three Arch will also nominate two new NAS board members.

NAS said it would use the proceeds for new product development, including its breast brachytherapy product, and for working capital.

By AuntMinnie.com staff writers
June 7, 2006

Related Reading

NAS inks prostate brachytherapy deal with Novation, May 18, 2006

U.S. NRC signs off on NAS brachytherapy, May 8, 2006

NAS gets FDA 510(k) for low-dose breast Brachytherapy, April 26, 2006

NAS opens $4 million credit line, March 31, 2006

NAS launches breast brachytherapy initiative, March 21, 2006

Copyright © 2006 AuntMinnie.com

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