PROCEPT BioRobotics Corporation Announces Proposed Offering of Common Stock
August 01 2023 - 4:06PM
PROCEPT BioRobotics® Corporation (NASDAQ: PRCT) (“PROCEPT
BioRobotics”), a surgical robotics company focused on advancing
patient care by developing transformative solutions in urology,
today announced the commencement of an underwritten public offering
of $125,000,000 of shares of its common stock. PROCEPT BioRobotics
also expects to grant the underwriters a 30-day option to purchase
up to an additional $18,750,000 of 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. All
of the shares in the proposed offering are to be sold by PROCEPT
BioRobotics.
BofA Securities, Piper Sandler and TD Cowen are
acting as joint book-running managers for the proposed offering.
Truist Securities is acting as co-manager.
The securities are being offered pursuant to an
effective shelf registration statement that was filed with the U.S.
Securities and Exchange Commission (the “SEC”) on August 1, 2023.
This offering will be made only by means of a prospectus supplement
and the accompanying prospectus which forms a part of the effective
shelf registration statement.
A preliminary prospectus supplement related to
the offering (including the accompanying prospectus) will be filed
with the SEC and will be available on the SEC’s website located at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus may also be obtained, when available,
from BofA Securities, NC1-022-02-25, 201 North Tryon Street,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or via
email: dg.prospectus_requests@bofa.com; from Piper Sandler &
Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402,
Attention: Prospectus Department, by telephone at (800) 747-3924,
or via e-mail at prospectus@psc.com; and from Cowen and Company,
LLC, 599 Lexington Avenue, New York, New York 10022, by telephone
at (833) 297-2926, or via e-mail at Prospectus_ECM@cowen.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or other 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 PROCEPT BioRobotics Corporation
PROCEPT BioRobotics is a surgical robotics
company focused on advancing patient care by developing
transformative solutions in urology. PROCEPT BioRobotics develops,
manufactures and sells the AquaBeam Robotic System, an advanced,
image-guided, surgical robotic system for use in minimally invasive
urologic surgery with an initial focus on treating benign prostatic
hyperplasia, or BPH. BPH is the most common prostate disease and
impacts approximately 40 million men in the United States. PROCEPT
BioRobotics designed Aquablation therapy to deliver effective, safe
and durable outcomes for males suffering from lower urinary tract
symptoms, or LUTS, due to BPH that are independent of prostate size
and shape or surgeon experience. PROCEPT BioRobotics has developed
a significant and growing body of clinical evidence, which includes
nine clinical studies and approximately 150 peer-reviewed
publications, supporting the benefits and clinical advantages of
Aquablation therapy.
Forward Looking Statements
This press release contains forward-looking
statements. All statements other than statements of historical
facts contained herein, including without limitation statements
regarding the completion, timing and size of the proposed public
offering and the grant to the underwriters of an option to purchase
additional shares are forward-looking statements reflecting the
current beliefs and expectations of PROCEPT BioRobotics’s
management made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements represent PROCEPT BioRobotics’s current expectations
regarding future events and are subject to known and unknown risks
and uncertainties that could cause actual results to differ
materially from those implied by the forward-looking statements.
Among those risks and uncertainties are market conditions,
including market interest rates, the trading price and volatility
of PROCEPT BioRobotics’s common stock, and risks relating to
PROCEPT BioRobotics’s business, including those risks described in
periodic reports that PROCEPT BioRobotics files from time to time
with the SEC, as well as the preliminary prospectus supplement and
accompanying prospectus relating to the proposed offering. The
forward-looking statements included in this press release speak
only as of the date of this press release, and PROCEPT BioRobotics
does not undertake to update the statements included in this press
release for subsequent developments, except as may be required by
law.
Investor Contact:Matt Bacso, CFAVP, Investor
Relations and Business
Operationsm.bacso@procept-biorobotics.com
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