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Note 13 - Subsequent Events
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
(
13
)    Subsequent Events
 
On
July 5, 2019,
BioCardia entered into a note purchase agreement pursuant to which the Company issued on such date
$625,000
in aggregate principal amount of convertible promissory notes to accredited investors, a portion of which were certain of the Company’s officers and directors and a principal stockholder (or their respective affiliates). Interest on the convertible notes accrues at the rate of
14.0%
per year. Upon the closing of the Company’s public offering of units on
August 6, 2019
the unpaid principal and interest on the convertible notes totaling approximately
$633,000,
converted into
210,887
units, unit consisting of
one
share of common stock and a warrant to purchase
one
share of common stock, at a conversion price of
$3.00
per unit.
 
On
July 11, 2019,
BioCardia signed an extension to a
2017
development agreement with a global biotherapeutics leader for BioCardia’s Helix™ biotherapeutic delivery catheter system. The agreement is exclusive with respect to a class of biotherapeutic agents that BioCardia is
not
currently developing on its own or with any other party and is time limited. Under the terms of the initial pre-clinical phase of the relationship, BioCardia received an upfront payment of
$1,000,000
on
August 13, 2019,
a portion of which will be creditable to BioCardia biotherapeutic delivery systems, support and training.
 
On
August 2, 2019,
the Company entered into an underwriting agreement with Maxim Group LLC, as representative of the several underwriters name therein, related to a firm commitment underwritten public offering pursuant to the S-
1,
of
1,666,667
units consisting of
one
share of common stock, par value of
$0.001
per share, and a warrant to purchase
one
share of common stock.  The offering price to the public was
$6.00
per unit. The warrants are immediately exercisable for shares of common stock at a price of
$6.30
per share and expire
five
years from the date of issuance. The offering price to the public of
$6.00
resulted in total gross proceeds of
$10.0
million. The net proceeds realized by the Company is approximately
$8.76
million, after deducting estimated offering expenses of
$635,000
and underwriting discounts and commissions of approximately
$610,000.
BioCardia has granted to the underwriters a
45
-day option to purchase up to
250,000
additional shares of common stock, and/or
250,000
additional warrants to cover over-allotments, if any.
 
On
August 2, 2019
the Company’s common stock and warrants to purchase common stock began trading on the Nasdaq Capital Market. Previously the common stock was quoted on the OTCQB Marketplace (OTCQB) under the symbol, “BCDA”.  “BCDA” and “BCDAW” are the trading symbols for the Company’s common stock and warrants to purchase common stock, respectively, on the Nasdaq Capital Market.