THERMO CARDIOSYSTEMS INC. COMPLETES TENDER OFFER FOR ITS COMMON STOCK REDEMPTION RIGHTS
THERMO CARDIOSYSTEMS INC. COMPLETES TENDER OFFER FOR ITS
COMMON STOCK REDEMPTION RIGHTS
WOBURN, Mass., Nov. 12 /PRNewswire/ -- Thermo Cardiosystems Inc. (AMEX: TCA) has successfully completed the tender offer for 800,000 of its common stock redemption rights, at a price of 25 cents per right. The offer, which began on Oct. 9, 1991, expired at 5 p.m., EST, on Friday, Nov. 8, 1991.
The tender offer was oversubscribed. Because of the oversubscription, the company will prorate the number of redemption rights to be purchased from each holder who tendered. The proration factor will be between 48.06 percent and 48.35 percent. The actual proration factor will be announced next week.
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 heart for patients suffering from cardiovascular disease. The company's devices are intended for investigational use only. Thermo Cardiosystems is a public subsidiary of Thermedics Inc. (AMEX: TMD) and Thermo Electron Corporation (NYSE: TMO).
/CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
(TCA TMO TMD) CO: Thermo Electron ST: Massachusetts IN: MTC SU: KM -- NE012 -- 3609 11/12/91 16:23 EST