BioForm Medical Announces Extension of Lock-Up Period
May 05 2008 - 11:35PM
PR Newswire (US)
SAN MATEO, Calif., May 5 /PRNewswire-FirstCall/ -- BioForm Medical,
Inc. (NASDAQ:BFRM) announced today that lock-up agreements entered
into with its underwriters in conjunction with its initial public
offering will be extended 18 days beyond the Company's May 1, 2008
earnings release. The lock-up period was due to expire on May 3,
but the Company's underwriting agreement provided for an extension,
depending on the timing of BioForm Medical's quarterly earnings
press release. The first sales of shares restricted by the
underwriter's lock-up may take place on Tuesday, May 20, 2008.
Approximately 33 million shares will become eligible for sale in
the public market upon expiration of the underwriters' lock-up, of
which approximately 10 million shares will be freely tradable under
Rule 144(b) and the remainder will be held by affiliates and other
stockholders subject to the volume and other restrictions of Rule
144. An additional number of shares equal to less than 5.0% of the
shares outstanding prior to the November 2007 initial public
offering were either not subject to a lock-up agreement or were
subject to a lock-up agreement with the Company, the terms of which
were less restrictive than the lock-up agreement with the
underwriters, and, as such, became freely tradeable on May 5, 2008.
About BioForm Medical, Inc.: BioForm Medical, Inc. is a medical
aesthetics company headquartered in San Mateo, California,
developing products that enhance aesthetic procedures performed in
dermatology and plastic surgery practices. BioForm's lead product
is Radiesse(R), a long-lasting dermal filler for use in facial
aesthetics. BioForm is developing several future aesthetics
products including a nerve ablation device for frown lines, a
sclerotherapy treatment for spider veins, and a surgical adhesive
for brow lifts. Contact: Adam Gridley 650.286.4025 Vice President,
Corporate Development BioForm Medical, Inc. DATASOURCE: BioForm
Medical, Inc. CONTACT: Adam Gridley, Vice President, Corporate
Development of BioForm Medical, Inc., +1-650-286-4025 Web site:
http://www.bioformmedical.com/
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