Cutera, Inc. Announces Pricing of Public Offering of Common Stock
April 16 2020 - 10:12PM
Business Wire
Cutera, Inc. (NASDAQ: CUTR) (“Cutera”), a provider of laser and
other energy-based aesthetic systems for practitioners worldwide,
today announced the pricing of an underwritten public offering of
2,385,000 shares of its common stock at a public offering price of
$10.50 per share. The offering is expected to close on or about
April 21, 2020, subject to the satisfaction of customary closing
conditions. In connection with the offering, Cutera has granted the
underwriter a 30-day option to purchase up to an additional 357,750
shares of common stock at the public offering price, less
underwriting discounts and commissions.
Piper Sandler & Co. is acting as the sole book-running
manager in the offering.
Cutera expects to receive gross proceeds of approximately $25.0
million. Cutera intends to use the net proceeds from the offering,
after deducting underwriting discounts and commissions and
estimated offering expenses payable by Cutera, to fund growth
initiatives, market development activities related thereto and to
provide for general corporate purposes, which may include working
capital, capital expenditures, clinical trials other corporate
expenses and acquisitions of complementary products, technologies
or businesses. Cutera does not have agreements or commitments for
any specific acquisitions at this time.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-237552) previously
filed with and declared effective by the Securities and Exchange
Commission on April 14, 2020. A preliminary prospectus supplement
and accompanying base prospectus relating to the offering, and a
final prospectus supplement and accompanying base prospectus
relating to the offering, each contain important information
relating to the Cutera’s shares of common stock. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. The final prospectus supplement and
accompanying base prospectus will be filed with the SEC and
available on the SEC’s website thereafter, and, when available, may
also be obtained from Piper Sandler & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, via telephone at 877-337-4747 or via email at
prospectus@psc.com.
This press release shall not constitute an offer to sell nor 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 Cutera, Inc.
Brisbane, California-based Cutera is a provider of energy-based
aesthetic systems for practitioners worldwide. Since 1998, Cutera
has been developing products that enable physicians and other
qualified practitioners to offer safe and effective aesthetic
treatments to their patients. For more information, call
1-888-4CUTERA or visit cutera.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainty. Such statements are based on
management's current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
Cutera cautions investors that there can be no assurance that
actual results or business conditions will not differ materially
from those projected or suggested in such forward-looking
statements as a result of various factors. The words “believe,”
“will,” “should,” “expect,” “intend,” “estimate,” “look forward”
and “anticipate,” variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. A further
list and description of these and other factors, risks and
uncertainties can be found in Cutera’s most recent annual report,
any subsequent quarterly and current reports, and certain other
filings, filed with the Securities and Exchange Commission. Cutera
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200416006026/en/
Cutera, Inc. Anne Werdan Director, Investor Relations
415-657-5500 awerdan@cutera.com
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