Conor Medsystems Prices Public Offering of Common Stock
July 27 2006 - 9:00AM
PR Newswire (US)
MENLO PARK, Calif., July 27 /PRNewswire-FirstCall/ -- Conor
Medsystems, Inc. (NASDAQ:CONR) today announced the pricing of an
underwritten public offering of 3,500,000 shares of newly issued
common stock at a price to the public of $27.50 per share,
resulting in estimated net proceeds to Conor Medsystems of
approximately $89.9 million. Conor Medsystems and a selling
stockholder have granted the underwriters a 30-day option to
purchase up to an aggregate of 525,000 additional shares of common
stock to cover over- allotments, if any. Citigroup Global Markets
Inc. and Morgan Stanley & Co. Incorporated are acting as joint
book-running managers of the offering, and, together with Lehman
Brothers Inc., Cowen and Company, LLC and CIBC World Markets Corp.,
are the managing underwriters. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
these securities, nor will there be any sale of these securities in
any state in which such offer, solicitation or sale is not
permitted. Copies of the prospectus supplement and accompanying
prospectus may be obtained from the prospectus department of
Citigroup Global Markets Inc. (Prospectus Department, 140 58th
Street, Brooklyn, NY 11220, Fax: 718-765-6734), or the prospectus
department of Morgan Stanley & Co. Incorporated at 180 Varick,
New York, NY, 10014, by telephone at 866-718-1649 or by emailing .
About Conor Medsystems Conor Medsystems, Inc. develops innovative
controlled vascular drug delivery technologies, and has initially
focused on the development of drug eluting stents to treat coronary
artery disease. DATASOURCE: Conor Medsystems, Inc. CONTACT:
Investors: Michael Boennighausen, Chief Financial Officer of Conor
Medsystems, +1-650-614-4100 Web site: http://www.conormed.com/
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