NMT Medical Raises $5.8 Million

February 18, 2010 (FinancialWire) — NMT Medical, Inc. (NASDAQ: NMTI) has completed a private placement of its common stock and warrants to purchase additional shares of common stock to existing and new stockholders for aggregate proceeds of approximately $5.8 million.

The company said it will use the proceeds to fund NMT’s ongoing clinical trials and development programs, primarily its pivotal patent foramen ovale /stroke and transient ischemic attack trial in the United States, CLOSURE I.

Under the terms of the private placement, NMT agreed to sell to the group around 2.7 million shares of its common stock at a purchase price of $2.15 per share for total proceeds of $5.8 million.

Included in the financing terms were warrants exercisable for an aggregate of an additional 2.1 million shares of NMT’s common stock with an exercise price of $2.90 per share.

Massachusetts-based NMT Medical is a medical technology company that designs, develops, manufactures and markets proprietary implant technologies that allow interventional cardiologists to treat structural heart disease through minimally invasive, catheter-based procedures.

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