Cadence raises $86.6 million

Cadence (NASDAQ:CADX) raised $86.6 million in a private placement of 12 million shares at $7.13. The price is a $0.02 discount to Cadence's close of $7.15 on Friday, the last trading day before the deal was announced. Investors also received five-year warrants to purchase 6 million shares at $7.84. The placement was led by new investor Venrock. New Enterprise Associates, also a new investor, and existing investors Frazier Healthcare Ventures; Domain Associates; Versant Ventures; Bay City Capital; and T. Rowe Price also participated. ...