Cutera, Inc. Announces Closing of Public Stock Offering and Full Exercise of Underwriter’s Option to Purchase Additional St...
April 21 2020 - 04:24PM
Business Wire
Cutera, Inc. (NASDAQ: CUTR) (“Cutera”), a provider of laser and
other energy-based aesthetic systems for practitioners worldwide,
today announced the closing of its previously announced
underwritten public offering of 2,742,750 shares of its common
stock at a public offering price of $10.50 per share, which
includes the exercise in full of the underwriter’s option to
purchase up to an additional 357,750 shares of its common stock at
the same price per share to cover over-allotments.
Piper Sandler & Co. acted as the sole book-running manager
in the offering.
“We are pleased by the market’s interest in this offering – even
in the current crisis environment – and believe this indicates
confidence in the long-term opportunities that lay ahead for
Cutera,” stated Dave Mowry, Cutera Chief Executive Officer. “This
capital, combined with our recently disclosed cost cutting
measures, will ensure that we do not lose momentum on our growth
initiatives as we work to further position Cutera as a global
energy-based aesthetics leader. Looking ahead, we are focused on
retaining critical talent and pushing ahead with our strategic
priorities in order to continue transforming the Company and
delivering shareholder value.”
Cutera intends to use the net proceeds from the offering 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 and other
corporate expenses.
The shares of common stock are being issued and sold 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 final prospectus
supplement and accompanying base prospectus relating to the
offering each contain important information relating to Cutera’s
shares of common stock. A final 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,
and 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200421005869/en/
Cutera, Inc. Investors: Anne
Werdan Director, Investor Relations 415-657-5500
awerdan@cutera.com
Media: Sloane & Company Dan
Zacchei / Joe Germani dzacchei@sloanepr.com /
jgermani@sloanepr.com
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