ClearPoint Neuro Announces Pricing of Public Offering of 2,307,694 Shares of Common Stock
February 29 2024 - 8:00AM
ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global
device, cell, and gene therapy-enabling company offering precise
navigation to the brain and spine, announced today the pricing of
its underwritten public offering of 2,307,694 shares of its common
stock at a price to the public of $6.50 per share. In addition, the
Company has granted the underwriter a 30-day option to purchase up
to an additional 346,154 shares of its common stock at the public
offering price less underwriting discounts and commissions. All the
shares are being offered by the Company. The offering is expected
to close on March 4, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds from
this offering for general corporate purposes, which may include
research and development expenditures, potential acquisitions of or
investments in business, products and technologies that complement
the Company’s business, or repayment of the Company’s
indebtedness.
Lake Street Capital Markets, LLC is acting as
the sole book-running manager for the proposed offering.
A shelf registration statement on Form S-3
relating to the securities being sold in this offering was declared
effective by the Securities and Exchange Commission (the “SEC”) on
November 20, 2023. Before you invest, you should read the
prospectus in the registration statement and related prospectus
supplement for more complete information about the Company and this
offering. An electronic copy of the preliminary prospectus
supplement and accompanying prospectus relating to the offering are
available on the SEC website at www.sec.gov. Copies of the
final prospectus supplement and accompanying prospectus relating to
the offering may be obtained, when available, by visiting the SEC’s
website, or from Lake Street Capital Markets, LLC, Attn: Syndicate
Department, 920 Second Avenue South, Suite 700, Minneapolis, MN
55402, by calling (612) 326-1305.
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 ClearPoint Neuro
ClearPoint Neuro is a device, cell, and gene
therapy-enabling company offering precise navigation to the brain
and spine. The Company uniquely provides both established clinical
products as well as preclinical development services for controlled
drug and device delivery. The Company’s flagship product, the
ClearPoint Neuro Navigation System, has FDA clearance and is
CE-marked. ClearPoint Neuro is engaged with healthcare and research
centers in North America, Europe, Asia, and South America. The
Company is also partnered with the most innovative
pharmaceutical/biotech companies, academic centers, and contract
research organizations, providing solutions for direct CNS delivery
of therapeutics in pre-clinical studies and clinical trials
worldwide. To date, thousands of procedures have been performed and
supported by the Company’s field-based clinical specialist team,
which offers support and services to our customers and partners
worldwide. For more information, please visit
www.clearpointneuro.com.
Forward-Looking Statements
Except for historical information contained
herein, this press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, statements about the Company’s expectations regarding
the completion, terms, size, and timing of the public offering, and
with respect to granting the underwriters a 30-day option to
purchase additional shares. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These statements are based on management’s current
expectations and beliefs and are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially from those described in the forward-looking
statements, including risks and uncertainties related to completion
of the public offering on the anticipated terms or at all, market
conditions and the satisfaction of customary closing conditions
related to the public offering, and those factors described in the
“Risk Factors” section of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2022, and the Company’s Quarterly
Reports on Form 10-Q for the three months ended March 31, 2023,
June 30, 2023, and September 30, 2023, all of which have been filed
with the SEC, and the Company’s Annual Report on Form 10-K for the
year ended December 31, 2023, which the Company intends to file
with the SEC on or before March 31, 2024.
Contact:
Media Contact:
Jacqueline Keller, Vice President of Marketing
(949) 900-6833
info@clearpointneuro.com
Investor Relations:
Danilo D’Alessandro, Chief Financial Officer
(888) 287-9109
ir@clearpointneuro.com
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