CardioThoracic Systems, Inc. announces filing for IPO.PORTOLA VALLEY, Calif.--(BUSINESS WIRE)--March 4, 1996-- CardioThoracic cardiothoracic /car·dio·tho·rac·ic/ (-thah-ras´ik) pertaining to the heart and the thorax. car·di·o·tho·rac·ic n. Of or relating to the heart and the chest. Systems, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 3,750,000 shares of common stock. All of the shares are being sold by the Company. UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control will underwrite the offering and plans to list the shares on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market under the symbol CTSI CTSI Census Tract Street Index (US Census Bureau) CTSI California Traffic Safety Institute CTSI Corbett Technology Solutions, Inc. (Chantilly, VA) CTSI Central Terminal Signaling Interface . Other underwriters include Dillon, Read & Co. Inc., Montgomery Securities and Piper Jaffray, Inc. CardioThoracic Systems is developing proprietary, disposable instruments and systems for performing minimally invasive cardiothoracic surgery. The Company's products are being designed to enable the majority of cardiothoracic surgeons to perform Minimally Invasive Direct Coronary Artery Bypass Coronary artery bypass Surgical procedure to reroute blood around a blocked coronary artery. Mentioned in: Heart Failure coronary artery bypass, n ("MIDCAB MIDCAB Minimally invasive direct coronary artery bypass Cardiology Minimally invasive heart surgery in which coronary bypass–usually with a single graft is performed on a blood-filled beating heart without a heart-lung machine via a small incision in the ") surgery, an emerging minimally invasive revascularization procedure performed on a beating heart. The Company expects to use the net proceeds of this offering to fund product introduction; to build a sales and marketing organization; to develop and sponsor surgeon training programs; to continue investing in research and development; to purchase manufacturing and engineering equipment, and to fund working capital and other general corporate purposes. A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to buy, nor shall there be any sales of these securities in any state in which such offer, solicitation or sale, would be unlawful prior to registration under the securities laws of such state. CardioThoracic Systems(TM) is a trademark of CardioThoracic Systems, Inc. CONTACT: CardioThoracic Systems, Inc. Kathleen A. Marshall, 415/529-0250 |
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