SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 26, 1997
MIRAVANT MEDICAL TECHNOLOGIES
(Exact name of registrant as specified in its charter)
Delaware 0-25544 77-0222872
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
7408 Hollister Avenue
Santa Barbara, California 93117
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 805/685-9880
PDT, INC.
(Former name or former address, if changed since last report)
The Exhibit Index is located on Page 2.
Page 1
<PAGE>
ITEM 5. OTHER EVENTS.
Miravant Medical Technologies, a Delaware corporation (the "Registrant"),
announced that the Registrant on September 26, 1997 completed a private equity
offering which included the issuance of 900,000 shares of the Registrant's
common stock priced at $50 per share for a total offering of $45 million.
Investors also received warrants to purchase additional shares at higher prices.
Acopy of the press release is attached as an exhibit hereto and is incorporated
by reference in its entirety herein.
EXHIBITS
The following exhibit is filed as part of this report:
Exhibit Exhibit
Number Description
99.1 Press Release
Page 2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MIRAVANT MEDICAL TECHNOLOGIES,
a Delaware corporation
(Registrant)
By: /s/ John M. Philpott
------------------------
Chief Financial Officer
Date: October 3, 1997
Page 3
<PAGE>
EXHIBIT 99
FOR IMMEDIATE RELEASE
Contacts: John Philpott Nick Kormeluk
Chief Financial Officer Senior Manager Investor Relations
(805)685-9880 (805)685-9880
MIRAVANT COMPLETES FINANCING
SANTA BARBARA Calif., September 29, 1997 - Miravant (Nasdaq: MRVT) announced
today that the Company has completed a private equity offering totaling $45
million, with two substantial institutional investors. The offering was managed
by Shoreline Pacific Institutional Finance, the Institutional Division of
Financial West Group, an investment banking firm located in Sausalito,
California.
The transaction included the issuance of 900,000 shares of common stock priced
at $50 per share (a 25% premium to the 30-day average closing bid price) and are
subject to restrictions on resale for a period of one year. Investors also
received warrants to purchase additional shares at higher prices, also subject
to resale restrictions for a one-year period.
The proceeds from the transaction will be used for ongoing research, development
and commercialization efforts of the Company, as well as for general corporate
purposes.
Miravant is a leader in developing both pharmaceuticals and devices for
PhotoPointTM, a medical procedure using light-activated drugs to selectively
destroy diseased cells and tissues. The company is pursuing PhotoPoint
applications in a number of medical specialties, including oncology, urology,
dermatology, ophthalmology, cardiology and gynecology. Over the last several
years, Miravant has established strategic collaborative relationships with
select corporations, including Pharmacia & Upjohn, Boston Scientific
Corporation, Ramus Medical Technologies, Cordis, a Johnson & Johnson company,
and Iris Medical Instruments, Inc.
# # #
Page 4
<PAGE>
