A Medical Device Daily

BSD Medical (Salt Lake City) said it entered into a securities purchase agreement with two institutional investors for the sale of 1,176,471 shares of its common stock in a registered direct offering at $1.70 a share.

In addition, warrants to purchase 882,354 shares of common stock in the aggregate will be issued to the investors. Gross proceeds of the offering are expected to be about $2 million. The company said it plans to use the proceeds for general corporate purposes, including working capital.

The warrants are exercisable beginning six months and one day after closing, expire 5 years after becoming exercisable and have an exercise price of $2.04 a share.

The completion of the offering will occur on or before Feb. 17. Roth Capital Partners served as the placement agent for the offering.

BSD develops systems used to deliver precision-focused microwave radio frequency energy to diseased sites in the body, including cancer. BSD's treatments are used to kill cancer directly and increase the effectiveness of companion radiation treatments for certain tumors.

In other financing activity, Alpha Pro Tech (Nogales, Arizona), a manufacturer of products designed to protect people, products and environments, said is board has authorized an expansion to the share repurchase program of its common stock for up to $2 million beyond the current share purchase program already in place.

The company has nearly $862,575 available for further purchases of stock under the $2 million stock repurchase program expansion reported April 8, 2009. During 2009, the company repurchased 1,554,900 shares at an average price of $1.36, for a total of $2,109,000. The company has repurchased and retired a total of 6,193,800 shares since 1999 through nine repurchase authorizations by the board. The company had roughly 22,360,954 shares outstanding as of Sept. 30.