Financings In Brief

WorldHeart relisting: Stock (WHTOF) resumes trading on Nasdaq at $9.50 following seven-to-one consolidation approved by shareholders Nov. 25, 16 months after being delisted. On Sept. 23, the company issued $63.5 mil. in common stock and converted $58 mil. of preferred shares into roughly 5 mil. common shares. Shareholders also agreed to convert the remaining $20 mil. in preferred shares and $3.5 mil. in accrued dividends. Following the restructuring and consolidation, the Ottawa firm has no preferred shares outstanding, about 15 mil. common shares and no debt. WorldHeart recently announced a new strategy for the U.S. marketing of its Novacor left-ventricular assist device, taking advantage of Medicare reimbursement for investigational LVADs (1"The Gray Sheet" Nov. 10, 2003, p. 39)...