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BioCardia to raise $4M via common stock, warrants offering

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BioCardia to raise $4M via common stock, warrants offering

BioCardia Inc. plans to sell 5,333,332 of its common shares to its largest beneficial owners: the Stertzer Family Trust and the Frost Gamma Investments Trust.

Priced at 75 cents each, the share sale will help the company raise $4 million in gross proceeds.

The offering, which closed Dec. 24, will also see the San Carlos, Calif.-based regenerative medicine company issue warrants to buy up to an additional 2,666,666 of its stock, also at 75 cents each.