BioCardia, Inc. recently completed a successful offering, raising approximately $6 million through the sale of 4.8 million shares of common stock and accompanying warrants. Priced at $1.25 per share and warrant, the offering included purchases by the company's directors and executive officers, contributing $0.9 million to the total proceeds. After deducting fees and expenses, BioCardia anticipates net proceeds of $5.1 million. The company agreed to certain restrictions on issuing new shares and entering into variable rate transactions until specific future dates, although these can be waived by the placement agent, H.C. Wainwright & Co., LLC.
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