Cardiovascular Systems Announces Filing of Universal Shelf Registration Statement
June 03 2011 - 8:00AM
Business Wire
Cardiovascular Systems, Inc. (CSI) (Nasdaq:CSII) announced today
that it has filed a universal shelf registration statement on Form
S-3 with the Securities and Exchange Commission (SEC). The shelf
registration statement will permit the company to sell up to $75
million of equity or debt securities, providing greater flexibility
to take advantage of financing opportunities as needed. As of the
date of this release, CSI has no specific plans to offer, and is
not required to offer, the securities covered by the registration
statement.
The terms of any offering under the registration statement will
be established at the time of the offering and will be described in
a prospectus supplement filed with the SEC. Unless otherwise
indicated, the proceeds from the sale of any securities will be
used for general corporate purposes including, but not limited to,
sales and marketing expansion, working capital, continuing research
and development, acquisitions and debt repayment. Once declared
effective by the SEC, the registration statement would remain in
place for a period of three years.
A registration statement relating to these securities has been
filed with the SEC, but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
This press release is not an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of 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 any such state or jurisdiction.
About Cardiovascular Systems, Inc.
Cardiovascular Systems, Inc., based in St. Paul, Minn., is a
medical device company focused on developing and commercializing
innovative solutions for treating vascular and coronary disease.
The company’s Stealth 360°™, Diamondback 360® and Diamondback
Predator 360® Orbital PAD Systems treat calcified and fibrotic
plaque in arterial vessels throughout the leg in a few minutes of
treatment time, and address many of the limitations associated with
existing surgical, catheter and pharmacological treatment
alternatives. The U.S. FDA granted 510(k) clearance for the use of
the Diamondback 360° in August 2007 and for the Stealth 360° in
March 2011. To date, more than 46,000 PAD procedures have been
performed using the Diamondback 360° in leading institutions across
the United States.
CSI has also commenced its ORBIT II Investigational Device
Exemption clinical trial to evaluate the safety and effectiveness
of its Diamondback 360° System in treating coronary arteries. The
coronary system is under clinical investigation and is currently
not commercially available in the United States.
For more information, visit the company’s website at
www.csi360.com.
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