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THERMO CARDIOSYSTEMS INC. ANNOUNCES SALE OF CONVERTIBLE DEBENTURES IN EUROPE

 WALTHAM, Mass., Dec. 7 /PRNewswire/ -- Thermo Cardiosystems Inc. (AMEX: TCA) announced today that it has entered into an agreement to sell in Europe at par $30 million of non-interest bearing convertible subordinated debentures due 1997. The debentures will be convertible into shares of common stock at a price of $21.74, which represents an 8 percent conversion premium over the stock's closing price on Dec. 6, 1993. The company has also granted to the managers of the offering an over-allotment option to purchase an additional $3.0 million principal amount of debentures. This transaction is expected to close on Jan. 5, 1994. The debentures have not been registered under the Securities Act of 1933 and, subject to certain exceptions, may not be offered in the United States or to U.S. persons.
 Thermo Cardiosystems Inc. is a leader in research and development of implantable ventricular-assist devices. These devices are designed to perform substantially all or part of the pumping function of the left ventricle of the natural eart for patients suffering from cardiovascular disease. The company's devices are currently intended for investigational use only. Thermo Cardiosystems Inc. is a public subsidiary of Thermedics Inc. (AMEX: TMD) and Thermo Electron Corporation (NYSE: TMO)
 These securities have not been registered under the United States Securities Act of 1933. Accordingly, subject to certain exceptions, these securities may not be offered or sold directly or indirectly in the United States of America, its territories or possessions, or to any person who is a citizen, national or resident thereof or to others for offering or resale in the United States or to any such person.
 -0- 12/7/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TCA TMD TMO)


CO: Thermo Cardiosystems Inc.; Thermedics Inc. Thermo Electron
 Corporation ST: Massachusetts IN: MTC SU: OFR


CM-JL -- NE010 -- 1271 12/07/93 12:10 EST
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Publication:PR Newswire
Date:Dec 7, 1993
Words:308
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