Kips Bay Medical Prices 5.25M Share Offering at $0.70/Share

Kips Bay Medical

today announced the pricing of its previously announced underwritten public offering. Kips Bay is offering 5,250,000 shares of common stock at a public offering price of $0.70 per share for gross proceeds of $3,675,000, prior to deducting the underwriting discount and estimated offering expenses. Kips Bay intends to use the net proceeds of this offering for working capital and general corporate purposes, including funding the process of seeking regulatory approval to market its eSVS Mesh in the United States and abroad, including continuing its human clinical trials.