Cynosure, Inc. Completes Initial Public Offering
December 14 2005 - 4:00PM
PR Newswire (US)
Underwriters Exercise Over-Allotment Option in Full WESTFORD,
Mass., Dec. 14 /PRNewswire-FirstCall/ -- Cynosure, Inc. (NASDAQ:
CYNO) today announced the completion of its initial public offering
of 5,000,000 shares of its Class A common stock. Of the 5,000,000
shares sold in the offering, 4,000,000 shares were sold by Cynosure
and 1,000,000 shares were sold by a wholly owned subsidiary of
El.En. S.p.A., Cynosure's largest stockholder. In addition, the
underwriters of Cynosure's initial public offering exercised their
over-allotment option in full and purchased an additional 750,000
shares of Class A common stock from Cynosure. All of the shares
were sold to the public at an initial public offering price of $15
per share. Cynosure received net proceeds from the offering,
including net proceeds from the exercise of the underwriters'
over-allotment option, of approximately $64.2 million after payment
of underwriting discounts and commissions and estimated offering
expenses. Cynosure did not receive any proceeds from the sale of
the shares by the selling stockholder. The sole book-running
underwriter for the offering was Citigroup Global Markets Inc. UBS
Securities LLC, Jefferies & Company, Inc. and Needham &
Company, LLC acted as co-managers. A copy of the final prospectus
relating to this offering may be obtained by contacting Citigroup
Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax:
718-765-6734). Cynosure, Inc. develops and markets aesthetic
treatment systems that are used by physicians and other
practitioners to perform non-invasive procedures to remove hair,
treat vascular lesions, rejuvenate skin through the treatment of
shallow vascular and pigmented lesions and temporarily reduce the
appearance of cellulite. Cynosure's products incorporate a broad
range of laser and other light-based energy sources, including
Alexandrite, pulse dye, Nd:Yag and diode lasers, as well as intense
pulsed light. Cynosure was founded in 1991. COMPANY CONTACT:
Timothy W. Baker EVP, Chief Financial Officer (978) 256-4200
DATASOURCE: Cynosure, Inc. CONTACT: Timothy W. Baker, EVP, Chief
Financial Officer of Cynosure, Inc., +1-978-256-4200
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