Amedica Announces Proposed Public Offering of Common Stock and Warrants
January 18 2017 - 4:01PM
Marketwired
Amedica Announces Proposed Public Offering of Common Stock and
Warrants
SALT LAKE CITY, UT-(Marketwired - Jan 18, 2017) - Amedica
Corporation (NASDAQ: AMDA), a company that develops and
commercializes silicon nitride ceramics, today announced that it
intends to offer and sell common stock and warrants, subject to
market and other conditions, in an underwritten public offering.
The common stock and warrants are being offered under the Company's
effective shelf registration statement previously filed with the
Securities and Exchange Commission (SEC). Net proceeds from the
offering will be used by Amedica to (1) remain in compliance with
the financial covenants in its outstanding Loan and Security
Agreement; (2) support working capital needs and other general
corporate purposes; (3) fund research and development and
commercialization activities of Amedica's product candidates,
including the funding of clinical trials Amedica plans to conduct
for its product candidates; and (4) continue to build sales,
marketing and distribution capabilities for Amedica's silicon
nitride technology platform and other products, including the costs
of inventory and instruments.
Maxim Group LLC is acting as sole book-running manager for the
offering.
The common stock and warrants are being offered by means of a
prospectus supplement and accompanying prospectus, forming a part
of the effective registration statement, a copy of which may be
obtained, when available, at the website of the SEC at
http://www.sec.gov. Electronic copies of the preliminary prospectus
also may be obtained from Maxim Group LLC, 405 Lexington Avenue,
2nd Floor, New York, NY 10174, at 212-895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Amedica Corporation Amedica is focused on the development
and application of interbody implants manufactured with
medical-grade silicon nitride ceramic. Amedica markets spinal
fusion products and is developing a new generation of wear- and
corrosion-resistant implant components for hip and knee
arthroplasty as well as dental applications. The Company's products
are manufactured in its ISO 13485 certified manufacturing facility
and through its partnership with Kyocera, one of the world's
largest ceramic manufacturers. Amedica's FDA-cleared and CE-marked
spine products are currently marketed in the U.S. and select
markets in Europe and South America through its distributor network
and its growing OEM and private label partnerships.
For more information on Amedica or its silicon nitride material
platform, please visit www.amedica.com.
Certain statements contained herein, including the Company's
intention to complete the offering and the expected use of net
proceeds, are not based on historical fact and are "forward-looking
statements" within the meaning of the applicable securities laws
and regulations. Owing to the uncertainties inherent in
forward-looking statements, actual events or results could differ
materially from those stated here. These forward-looking statements
reflect management's expectations as of the date of this press
release and are subject to certain risks and uncertainties,
including the expected gross proceeds of the offering, the expected
closing date and other factors. The Company does not undertake to
revise these statements to reflect subsequent developments.
Contacts: Amedica IR 801-839-3502 IR@amedica.com
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