NAS Receives $15.5 Million From Financing

North American Scientific Inc., of Chatsworth, Calif., yesterday announced the Jan. 18 closing of a private placement of shares of its common stock and the issuance of warrants for the purchase of common stock.

The company received gross proceeds of $15.5 million from the financing, which will be used for the continued development of its ClearPath breast brachytherapy device, as well as working capital.

Three Arch Partners led the private placement with the investment of $10 million, followed by CHL Medical Partners with $3 million and SF Capital Partners with $2.5 million. Oppenheimer & Co. acted as the sole placement agent for the transaction.