Motus GI Announces Launch of Proposed Follow-on Public Offering
December 17 2018 - 4:17PM
Business Wire
Motus GI Holdings, Inc., (NASDAQ: MOTS) ("Motus GI" or the
"Company"), a medical technology company dedicated to improving
clinical outcomes and enhancing the cost-efficiency of colonoscopy,
today announced that it filed a registration statement on Form S-1
with the U.S. Securities and Exchange Commission (SEC) relating to
a proposed follow-on public offering of 5,000,000 shares of its
common stock. In addition, the Company intends to grant the
underwriters a 30-day option to purchase an additional 750,000
shares of common stock.
Piper Jaffray & Co. is acting as the sole underwriter for
the offering.
Motus GI intends to use the net proceeds from the offering to
fund commercialization activities, research and development
activities, including clinical and regulatory development and the
continued development and enhancement of the Pure-Vu® System, and
for working capital and other general corporate purposes.
The proposed offering will be made only by means of a
prospectus. A copy of the preliminary prospectus relating to this
offering, when available, may be obtained from Piper Jaffray &
Co., 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, Attention:
Prospectus Department, by telephone at (800) 747-3924 or by email
at prospectus@pjc.com.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission 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. Copies of the registration statement
can be accessed through the SEC's website at www.sec.gov.
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 Motus GI and the Pure-Vu® System
Motus GI Holdings, Inc. is a medical technology company, with
subsidiaries in the U.S. and Israel, dedicated to improving
clinical outcomes and enhancing the cost-efficiency of colonoscopy.
The Company’s flagship product is the Pure-Vu® System, a U.S. FDA
cleared medical device indicated to help facilitate the cleaning of
a poorly prepared colon during the colonoscopy procedure.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including but not limited to, statements relating to the Company’s
expectations regarding the completion, timing and size of the
proposed public offering, and its expectations with respect to
granting the underwriters a 30-day option to purchase additional
shares. Forward-looking statements are based on the Company's
current expectations and assumptions. The Private Securities
Litigation Reform Act of 1995 provides a safe-harbor for
forward-looking statements. These statements may be identified by
the use of forward-looking expressions, including, but not limited
to, "expect," "anticipate," "intend," "plan," "believe,"
"estimate," "potential," "predict," "project," "should," "would"
and similar expressions and the negatives of those terms, including
without limitation, risks inherent in the development and
commercialization of potential products, uncertainty in the timing
and results of clinical trials or regulatory approvals, maintenance
of intellectual property rights or other risks discussed in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2017, as updated by its Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2018, June 30, 2018, and September 30,
2018, and in the preliminary prospectus related to the proposed
offering filed with the Securities Exchange Commission. Prospective
investors are cautioned not to place undue reliance on such
forward-looking statements, which speak only as of the date hereof.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181217005816/en/
Investor and Media
Contact:Jenene ThomasJenene Thomas Communications,
LLC(833) 475-8247mots@jtcir.com
Motus GI (NASDAQ:MOTS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Motus GI (NASDAQ:MOTS)
Historical Stock Chart
From Apr 2023 to Apr 2024