Acutus Medical Announces Pricing of Initial Public Offering
August 05 2020 - 8:30PM
Acutus Medical, Inc. (“Acutus”) (NASDAQ: AFIB) today announced the
pricing of its initial public offering of 8,823,529 shares of its
common stock at a price to the public of $18.00 per share. All of
the shares are being offered by Acutus. The gross proceeds from the
offering, before deducting underwriting discounts and commissions
and other offering expenses payable by Acutus, are expected to
be approximately $158.8 million. The shares are expected to
begin trading on The Nasdaq Global Select Market on August 6, 2020,
under the symbol “AFIB.” The offering is expected to close
on August 10, 2020, subject to the satisfaction of customary
closing conditions. In addition, Acutus has granted the
underwriters a 30-day option to purchase up to an additional
1,323,529 shares of Acutus’ common stock at the initial
public offering price, less the underwriting discounts and
commissions.
J.P. Morgan and BofA Securities are acting as joint book-running
managers. William Blair is also acting as book-running manager.
Canaccord Genuity and BTIG are acting as co-managers.
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission and became
effective on August 5, 2020. The offering is being made only by
means of a prospectus. Copies of the final prospectus, when
available, may be obtained from J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at (866) 803-9204, or by
email at prospectus-eq_fi@jpmchase.com; BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC
28255-0001, Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; or William Blair & Company,
L.L.C., Attention: Prospectus Department, 150 North Riverside
Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by
email at prospectus@williamblair.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 of these securities under the securities laws of any
such state or jurisdiction.
About Acutus Medical, Inc. Acutus Medical is an
arrhythmia management company focused on improving the way cardiac
arrhythmias are diagnosed and treated. Acutus is committed to
advancing the field of electrophysiology with a unique array of
products and technologies which will enable more physicians to
treat more patients more efficiently and effectively. Through
internal product development, acquisitions and global partnerships,
Acutus has established a global sales presence delivering a broad
portfolio of highly differentiated electrophysiology products that
provide its customers with a complete solution for catheter-based
treatment of cardiac arrhythmias. Founded in 2011, Acutus is based
in Carlsbad, California.
Investor Contact:Caroline CornerWestwicke ICRD:
415-314-1725Caroline.corner@westwicke.com
Holly WindlerM: 619-929-1275media@acutusmedical.com
Caution Regarding Forward-Looking
StatementsThis press release includes statements that may
constitute “forward-looking” statements, usually containing the
words “believe,” “estimate,” “project,” “expect” or similar
expressions. These forward-looking statements include, without
limitation, references to Acutus’ expectations regarding the
commencement of trading on The Nasdaq Global Select Market and the
completion, timing and size of the public offering. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, risks and
uncertainties related to completion of the public offering and the
satisfaction of customary closing conditions related to the public
offering. Additional factors that would cause or contribute to such
differences include, but are not limited to, the Company's ability
to continue to manage expenses and cash burn rate at sustainable
levels, continued acceptance of the Company's products in the
marketplace, the effect of global economic conditions on the
ability and willingness of customers to purchase its systems and
the timing of such purchases, competitive factors, changes
resulting from healthcare policy in the United States, including
changes in government reimbursement of procedures, dependence upon
third-party vendors, timing of regulatory approvals, the impact of
the recent coronavirus (COVID-19) pandemic and our response to it,
and other risks discussed in the Company's periodic and other
filings with the Securities and Exchange Commission. By making
these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
Acutus Medical (NASDAQ:AFIB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Acutus Medical (NASDAQ:AFIB)
Historical Stock Chart
From Sep 2023 to Sep 2024