Friday, December 14, 2007

North American Scientific Gets $15.5M In PIPE

Chatsworth-based North American Scientific, a developer of oncology treatment products, said Thursday that the firm has raised $15.5M in a PIPE from venture funds Three Arch, SF Capital Partners, and CHL Medical Partners. The funding came through a private placement of common stock and warrants. According to North American Scientific, the investment will give Three Arch approximately 49.4% ownership of the firm. North American Scientific said that CIBC World Markets was the soled placement agent in the funding.

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