Shockwave Announces Proposed Public Offering of Common Stock
June 16 2020 - 7:39AM
Shockwave Medical, Inc. (“Shockwave”) (Nasdaq: SWAV) today
announced it has commenced an underwritten public offering of
1,700,000 shares of its common stock. All of the shares of common
stock are being offered by Shockwave. In addition, Shockwave
intends to grant the underwriters a 30-day option to purchase up to
an additional 255,000 shares of its common stock. The offering is
subject to market and other conditions and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Morgan Stanley and BofA Securities are acting as joint lead
book-running managers for the offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (the “SEC”) and
became automatically effective upon filing. The proposed offering
will be made only by means of a prospectus supplement (including
the accompanying base prospectus). Copies of the preliminary
prospectus supplement relating to the proposed offering may be
obtained, when available, from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014; or BofA Securities, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte, North Carolina 28255‐0001,
Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any offer or
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
About Shockwave Medical, Inc. Shockwave Medical
is focused on developing and commercializing products intended to
transform the way calcified cardiovascular disease is treated.
Shockwave aims to establish a new standard of care for medical
device treatment of atherosclerotic cardiovascular disease through
its differentiated and proprietary local delivery of sonic pressure
waves for the treatment of calcified plaque, which it refers to as
Intravascular Lithotripsy (“IVL”). IVL is a minimally invasive,
easy-to-use and safe way to significantly improve patient
outcomes.
Caution Regarding Forward-Looking
Statements
This press release contains statements relating to Shockwave’s
expectations, projections, beliefs, and prospects, which are
“forward-looking statements” within the meaning of the federal
securities laws and by their nature are uncertain. Words such as
“believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “plans,” and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements include, without limitation, statements regarding
completion, timing and size of the proposed public offering, the
grant to the underwriters of an option to purchase additional
shares and references to whether Shockwave will offer the common
stock or consummate the offering. Such forward-looking statements
are not guarantees of future performance, and you are cautioned not
to place undue reliance on these forward-looking statements.
Shockwave’s business and operations are subject to a variety of
risks and uncertainties and, consequently, actual results may
differ materially from those projected by any forward-looking
statements. Factors that could cause actual results to differ
include, but are not limited to, risks and uncertainties related to
commencement or completion of the public offering and the
satisfaction of customary closing conditions related to the public
offering. Various factors could also adversely affect
Shockwave’s operations, business or financial results in the future
and cause Shockwave’s actual results to differ materially from
those contained in forward-looking statements, including, but not
limited to: the impact of the COVID-19 pandemic on Shockwave’s
operations, financial results, and liquidity and capital resources,
including on sales, expenses, supply chain, manufacturing, research
and development activities, clinical trials and employees;
Shockwave’s ability to design, develop, manufacture and market
innovative products to treat patients with challenging medical
conditions, particularly in peripheral artery disease, coronary
artery disease and aortic stenosis; Shockwave’s expected future
growth, including growth in international sales; the size and
growth potential of the markets for Shockwave’s products, and
Shockwave’s ability to serve those markets; the rate and degree of
market acceptance of Shockwave’s products; coverage and
reimbursement for procedures performed using Shockwave’s products;
the performance of third parties in connection with the development
of Shockwave’s products, including third-party suppliers;
regulatory developments in the United States and foreign countries;
Shockwave’s ability to obtain and maintain regulatory approval or
clearance of its products on expected timelines; Shockwave’s
ability to research, develop and commercialize its products and any
other approved or cleared product; Shockwave’s ability to scale its
organizational culture of cooperative product development and
commercial execution; the development, regulatory approval,
efficacy and commercialization of competing products; the loss of
key scientific or management personnel; Shockwave’s ability to
develop and maintain its corporate infrastructure, including its
internal controls; Shockwave’s financial performance and capital
requirements; and Shockwave’s ability to obtain and maintain
intellectual property protection for its products, as well as its
ability to operate its business without infringing the intellectual
property rights of others. These risks and uncertainties, as well
as others, are discussed in greater detail in Shockwave’s filings
with the SEC, including under the section entitled “Risk Factors”
in its preliminary prospectus supplement, including the documents
incorporated by reference therein, which include its Annual Report
on Form 10-K and its Quarterly Report on Form 10-Q filed with the
SEC on March 12, 2020 and May 13, 2020, respectively, and its
subsequent periodic reports filed with the SEC. There may be
additional risks of which Shockwave is not presently aware or that
it currently believes are immaterial which could have an adverse
impact on its business. Any forward-looking statements are based on
Shockwave’s current expectations, estimates and assumptions
regarding future events and are applicable only as of the dates of
such statements. Shockwave makes no commitment to revise or
update any forward-looking statements in order to reflect events or
circumstances that may change.
Media Contact: Scott Shadiow
+1.317.432.9210sshadiow@shockwavemedical.com
Investor Contact:Debbie Kaster, Gilmartin
Groupinvestors@shockwavemedical.com
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