SI-BONE Announces Pricing of Public Offering of Common Stock
May 04 2023 - 10:29PM
SI-BONE, Inc. (Nasdaq: SIBN), a medical device company dedicated to
solving musculoskeletal disorders of the sacropelvic anatomy, today
announced the pricing of its underwritten public offering of
3,775,000 shares of its common stock at a price to the public of
$22.00. Of the shares of common stock being offered, 3,502,247
shares are being offered by SI-BONE and 272,753 shares are being
offered by a selling stockholder. In addition, SI-BONE has granted
the underwriters a 30-day option to purchase up to an additional
566,250 shares of the company’s common stock on the same terms and
conditions. Gross proceeds to SI-BONE from the offering are
expected to be approximately $77.0 million, before deducting
underwriting discounts and commissions and estimated offering
expenses. SI-BONE will not receive any proceeds from the sale of
the shares of common stock by the selling stockholder in the
offering. The offering is scheduled to close on May 9, 2023,
subject to the satisfaction of customary closing conditions.
BofA Securities, Morgan Stanley, and Jefferies are acting as
joint book-running managers. Canaccord Genuity and Cantor are
acting as co-lead managers.
A shelf registration statement relating to the shares being sold
in this offering was filed with the U.S. Securities and Exchange
Commission on May 4, 2023 and became effective automatically upon
filing. A preliminary prospectus supplement and accompanying
prospectus relating to the offering were filed with
the SEC and are available for free on the SEC’s website
located at http://www.sec.gov. When available, electronic
copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained: from BofA
Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC
28255-0001, Attn: Prospectus Department or email at
dg.prospectus_requests@bofa.com; from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014; or from Jefferies, by mail at Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, New York, NY 10022, or by telephone at 877-547-6340 or
877-821-7388, or by email at
prospectus_department@jefferies.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 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 SI-BONESI-BONE is a medical device
company dedicated to solving musculoskeletal disorders of the
sacropelvic anatomy.
Forward-Looking StatementsThis press release
contains forward-looking statements, including statements relating
to SI-BONE’s expectations regarding the public offering. These
statements are subject to significant risks and uncertainties and
actual results could differ materially from those
projected. SI-BONE cautions investors not to place undue
reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
completion of the underwritten public offering is subject to the
satisfaction of customary closing conditions. Risks and
uncertainties relating to SI-BONE and its business can be
found in the “Risk Factors” section of SI-BONE’s Form 10-Q for the
quarter ended March 31, 2023, filed with
the SEC on May 2, 2023, in the preliminary
prospectus supplement related to the proposed public offering filed
with the SEC on May 4, 2023, and in the final
prospectus supplement related to the public offering to be filed
with the SEC on or about May 5,
2023. SI-BONE undertakes no duty or obligation to update
any forward-looking statements contained in this release as a
result of new information, future events or changes in SI-BONE’s
expectations, except as required by law.
Investor Contact:Saqib IqbalSr. Director,
FP&A and Investor Relationsinvestors@SI-BONE.com
Marissa BychPrincipal, Gilmartin
Groupmarissa@gilmartinir.com
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