News & Events

Sunshine Heart, Inc. (ASX: SHC) is pleased to announce that its partially underwritten non-renounceable rights issue of new ordinary shares to raise a maximum of $8.1 million (before offer
costs) closed successfully on 21 September 2009 in accordance with the timetable set out in the Offer Booklet.

Existing shareholders have subscribed for 197,569,471 new shares equivalent to $7.9 million. 3,836,863 shortfall shares under the rights issue have been placed by RBS Morgans which means that the maximum amount of $8.1 million has been raised through the rights issue, taking the total amount raised under the placement and rights issue to $9.8 million.

Sunshine Heart's Chief Executive, Don Rohrbaugh said that the support of shareholders was very encouraging and the funds will allow the Company to complete enrolment and patient follow-up in the Company's US Food and Drug Administration (FDA) 20 patient feasibility trial of C-Pulse and preparation for the CE Mark application.

Holding statements for the new ordinary shares allotted will be dispatched on or before 29 September 2009.