TranS1 completes financing of $17.2M at $2.28/share

theflyonthewall.com

TranS1 (TSON) announced earlier that it has completed its previously announced acquisition of Baxano. Upon the closing of the merger, and in accordance with the terms of the agreement, the company issued an aggregate of approximately 10.3M shares of its common stock as merger consideration, valued at approximately $20.1M based on the May 30 closing price. Contemporaneously with the closing, and in accordance with the terms of a Securities Purchase Agreement, the company issued and sold to certain investors approximately 7.5M shares of the company's common stock, at a purchase price of $2.28 per share, resulting in gross proceeds to the company of $17.2M.

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