Acutus Medical Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additiona...
August 10 2020 - 4:41PM
Acutus Medical, Inc. (“Acutus”) (Nasdaq: AFIB), today
announced the closing of its initial public offering of 10,147,058
shares of common stock, which includes the exercise in full of the
underwriters’ option to purchase 1,323,529 additional shares of its
common stock, at a price to the public of $18.00 per share. All of
the shares were offered by Acutus. The aggregate gross proceeds to
Acutus from the offering were approximately $182.6 million, before
deducting underwriting discounts and commissions and other offering
expenses. The shares began trading on the Nasdaq Global Select
Market on August 6, 2020 under the symbol “AFIB”.
J.P. Morgan and BofA Securities acted as joint book-running
managers. William Blair acted as book-running manager. Canaccord
Genuity and BTIG acted 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 was made only by means of
a prospectus. Copies of the final prospectus 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. 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, 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.
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