A Medical Device Daily

Natus Medical (San Carlos, California) reported that it priced an offering to sell 770,000 shares of its common stock at a price of $18.27 per share, which is equal to the closing price of the company's common stock on the Nasdaq Global Market on April 3.

The shares are being sold under the company's previously filed shelf registration statement, which was declared effective by the SEC on Aug. 15, 2006.

The company expects that the net proceeds of the offering will be about $13.4 million after deducting underwriting discounts and other expenses associated with the offering.

The company said it currently intends to use the net proceeds for general corporate purposes, which may include the financing of potential acquisitions of, or investments in, companies and technologies that complement its business, as well as for capital expenditures and working capital needs. It said it does not expect to use the proceeds to accelerate payments on its existing term debt with Wells Fargo Bank.

In connection with the offering, the company also granted the underwriter a 30-day option to purchase up to an additional 115,500 shares to cover any over-allotments.

The offering is expected to close on or about April 9.

Roth Capital Partners acted as the sole underwriter of the offering.

Natus is a provider of healthcare products used for the screening, detection, treatment, monitoring and tracking of common medical ailments such as hearing impairment, neurological dysfunction, epilepsy, sleep disorders, and newborn care.

In other financing news: Edwards Lifesciences (Irvine, California), reported that its CEO/chairman, Michael Mussallem, has adopted a pre-arranged stock trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934. The plan replaces a similar plan that expired last month.

The new plan will provide a vehicle for Mussallem to exercise Edwards stock options due to expire in 2010. Rule 10b5-1 stock trading plans allow corporate executives to adopt written, pre-arranged stock trading plans to buy or sell a specified number of shares of company stock. Such plans may minimize any market effect of stock sales or purchases by spreading them out over an extended period of time.

The new plan provides for the exercise and sale of up to 14,000 shares per month.

Edwards said that Mussallem presently is in full compliance with the company's stock ownership guidelines for its executive officers and intends to remain in compliance throughout this stock trading plan. Under these guidelines, Mussallem is required to own shares of company stock with an aggregate market value equal to six times his base salary.

Edwards treats advanced cardiovascular disease with its heart valve therapies, and critical care and vascular technologies.