Cardiovascular Systems pursues $33M public offering

Cardiovascular Systems ($CSII) will raise $33 million in a public offering. Earlier this month, the Minnesota developer of catheter systems and products to treat peripheral artery disease completed its PMA FDA submission for a new device designed to treat calcified coronary arteries, and the extra cash will come in handy as it preps for an eventual commercial launch. Cardiovascular Systems is working with Leerink Swann and JMP Securities to pursue the sale of common stock, and will grant the underwriters 30 days from the offering to purchase additional shares in order to cover any overallotments. The company previously raised $15 million in a public offering last May. Release

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