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November 16, 2006
Hansen Medical Goes Public
Hansen Medical was founded by Fred Moll, founder
of Intuitive Surgical and Senior Advisor at Kearny Venture
Partners. Hansen represents Fred's fourth successful entrepreneurial
venture. Fred and his team have developed a robotically-controlled
catheter to perform minimally invasive procedures, beginning
with intracardiac ablation for atrial fibrillation. KVP
partner Jim Shapiro serves on the board of Hansen. Below,
Hansen reports its initial public offering. It is the
third IPO in our current fund's portfolio and the 10th
liquidity event in the two portfolios we have managed
since 2000.
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Hansen Medical (NASDAQ: HNSN) announced today the initial
public offering of 6,250,000 shares of common stock at
a price of $12.00 per share. Hansen Medical's common stock
is expected to begin trading on the NASDAQ Global Market
under the trading symbol HNSN on Thursday, November 16,
2006. All of the shares in the offering are being offered
by Hansen Medical.
The underwriters of the offering will be Morgan Stanley
& Co. Incorporated and J.P. Morgan Securities Inc.
as joint bookrunners, and Thomas Weisel Partners LLC and
Leerink Swann & Co., Inc. as co-managers. Hansen Medical
has granted the underwriters a 30-day option to purchase
up to an additional 937,500 shares to cover over-allotments,
if any.
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