ChromaVision to Sell $20 Million in Stocks

ChromaVision Medical Systems Inc. signed definitive agreements to sell nearly 1.8 million newly issued shares of common stock at $11.25 each in a $20 million private placement.

The San Juan Capistrano-based company, which makes imaging systems, said it selected unspecified institutional and other accredited investors for the private placement and will use proceeds to market its systems.

ChromaVision’s stock closed Monday at $12.75 a share, up 94 cents.

Prudential Securities Inc.’s Prudential Vector Healthcare Group unit served as the company’s placement agent in the financing.

ChromaVision makes the Automated Cellular Imaging system, which helps to detect, diagnose and treat cellular diseases. The company had revenue of $64.1 million for the six months ended June 30.