Merit Medical Announces Pricing of Public Offering of Common Stock
March 22 2017 - 8:00PM
Merit Medical Systems, Inc. (NASDAQ:MMSI) (“Merit”), a leading
manufacturer and marketer of proprietary disposable devices used in
interventional, diagnostic and therapeutic procedures, particularly
in cardiology, radiology and endoscopy, today announced the pricing
of its underwritten public offering of 4,500,000 shares of common
stock at a price of $28.25 per share (before underwriting
discounts). In addition, Merit has granted the underwriters
participating in the offering a 30-day option to buy up to an
additional 675,000 shares of common stock at the public offering
price, less underwriting discounts. The offering is expected
to close on or about March 28, 2017, subject to customary closing
conditions.
Merit expects to use the net proceeds from the
offering to repay debt under its existing credit facility.
BofA Merrill Lynch and Piper Jaffray are acting
as joint book-running managers and representatives of the
underwriters for the offering. Wells Fargo Securities is also
acting as a joint book-running manager. Canaccord Genuity, Raymond
James, and SunTrust Robinson Humphrey are acting as
co-managers.
Copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained, when
available, free of charge on the Securities and Exchange
Commission’s website at www.sec.gov or by sending a request to
(a) BofA Merrill Lynch, NC1-004-03-43, 200 North College Street,
3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department
(or by email at dg.prospectus_requests@baml.com) or (b) Piper
Jaffray, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn:
Prospectus Department (or by e-mail at prospectus@pjc.com or
telephone at (800) 747-3924.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the securities
described herein, nor will there be any sale of these securities in
any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The securities discussed herein will be offered and sold pursuant
to an effective shelf registration statement on Form S-3 previously
filed with the Securities and Exchange Commission, and the offering
will be made only by means of a prospectus supplement and
accompanying prospectus meeting the requirements of Section 10 of
the Securities Act of 1933, as amended (the “Securities Act”).
ABOUT MERITFounded in 1987, Merit Medical
Systems, Inc. is engaged in the development, manufacture and
distribution of proprietary disposable medical devices used in
interventional, diagnostic and therapeutic procedures, particularly
in cardiology, radiology and endoscopy. Merit serves client
hospitals worldwide with a domestic and international sales force
totaling approximately 280 individuals. Merit employs
approximately 4,500 people worldwide with facilities in South
Jordan, Utah; Pearland, Texas; Richmond, Virginia; Malvern,
Pennsylvania; Rockland, Massachusetts; San Jose, California;
Maastricht and Venlo, The Netherlands; Paris, France; Galway,
Ireland; Beijing, China; Tijuana, Mexico; Joinville, Brazil;
Markham, Ontario, Canada; Tokyo, Japan; Singapore; and Melbourne,
Australia.
FORWARD-LOOKING
STATEMENTS
This release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended. In some cases,
forward-looking statements can be identified by the use of
terminology such as “may,” “will,” “expects,” “plans,”
“anticipates,” “intends,” “seeks,” “believes,” “estimates,”
“potential,” “forecasts,” “continue,” or other forms of these words
or similar words or expressions, or the negative thereof or other
comparable terminology. Forward-looking statements in this release
include statements regarding the proposed public offering of shares
of common stock and the anticipated use of the net proceeds
therefrom, and are subject to a number of risks and uncertainties
that may cause actual results or outcomes to be materially
different from those expressed or implied by the forward-looking
statements. These risks and uncertainties include risks relating to
the sufficiency of demand for our common stock, the price we are
able to obtain for our common stock and satisfaction of customary
closing conditions for the offering for an underwritten offering of
securities, as well as the risks and uncertainties that could
affect Merit’s business and financial results described in the
preliminary prospectus supplement and accompany prospectus
referenced above, as well as Merit’s other filings with the SEC,
including under the caption “Risk Factors” in Merit’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2016.
Forward-looking statements relate only to events as of the date on
which the statements are made and actual results or events may
differ materially from anticipated results or events. Except as
required by law, Merit undertakes no obligation to update or revise
any forward-looking statements, even if subsequent events cause its
views to change.
Contact: Anne-Marie Wright, Vice President, Corporate Communications
Phone: (801) 208-4167 e-mail: awright@merit.com Fax: (801) 253-1688
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