Sunshine Heart aims $3.5M+ heart failure device approvals
Institutional investors in the United States have committed to buy $3.5 million-worth of Sunshine Heart Inc. shares in a private placement -- that is, if the company's Australian shareholders agree. The medical device company that started out in Sydney, Australia, and now is headquartered in Minneapolis, Minnesota, hopes to raise up to $10.3 million more through a complicated rights offering that could play out over four years.