Duluth Metals Announces Private Placement of Common Shares to Wallbridge Mining Company

Duluth MetalsLimited (“Duluth”) (TSX: DM) (TSX:DM.U) announced today it has completed the private placement of 7,456,420 common shares to Wallbridge Mining Company (“Wallbridge”), at a price of CDN $2.00 per share, resulting in gross proceeds to Duluth of approximately CDN $14.9 million. The shares were issued to Wallbridge pursuant to a pre-emptive right previously granted by Duluth which gives Wallbridge the right to participate under certain circumstances in future issuances of common shares of Duluth. Wallbridge’s pre-emptive right, which Wallbridge exercised in full, resulted from the private placement of 6 million common shares at a price of CDN $2.00 per share to Antofagasta plc (“Antofagasta”) on January 14, 2010. [Read the full article]

China Yida Holding Company (Nasdaq: CNYD) (“China Yida” or the “Company”), a leading diversified entertainment enterprise in China, today announced the Company has closed on its previously announced registered direct offering, raising an aggregate amount of approximately $26.3 million, before deducting placement agents’ fees and offering expenses, at a price of $11.50 per share. China Yida intends to use the net proceeds for working capital and other general corporate purposes.

The shares in this offering were issued under a shelf registration statement previously filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). Newbridge Securities Corporation acted as exclusive placement agent in connection with the offering. [Read the full article]

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Ironwood Pharmaceuticals Inc. plans on raising about $272.4 million through an initial public offering and said it will use the proceeds to develop a drug for irritable bowel syndrome.

The company, based in Cambridge, Mass., is offering just under 16.7 million shares to the public. Underwriters have an option to buy an additional 2.5 million shares. It expects between $14 and $16 apiece for the stock.

Ironwood’s lead drug candidate is linaclotide, now in late-stage development. It is aimed at treating irritable bowel syndrome. Data from the late-stage studies is expected in the second half of 2010. The company’s partners on the drug include Forest Laboratories Inc. in the U.S., Almirall SA in Europe, and Astellas Pharma Inc. in Asia.

Meanwhile the company has a pain treatment in early-stage studies and multiple laboratory programs. [Read the full article]

BG Medicine Inc., a molecular diagnostic test maker, plans to sell up to $86.3 million in stock in an initial public offering, according to a regulatory filing Friday.

The company, based in Waltham, Mass., did not set a price per share for the offering or disclose how many shares it would offer. No date was set for the offering.

BG Medicine focuses on biotechnology-based diagnostic tests. The lead product candidate is the BGM Galectin-3 test for heart failure, which measures a type of protein found in galectin-3 levels in blood plasma or serum. The protein, Galectin-3, has been shown to play an important role in heart failure, the company said.

Net proceeds from the offering will be used to fund the commercial launch of the BGM Galectin-3 test and to fund additional research and development. Proceeds can also be used for general corporate purposes, the company said. [Read the full article]

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