Endologix Announces Pricing of Public Offering of Common Stock
October 25 2018 - 10:16AM
Business Wire
Endologix, Inc. (Nasdaq: ELGX) (“Endologix” or the “Company”),
developer and marketer of innovative treatments for aortic
disorders, announced today the pricing of a registered underwritten
public offering of its common stock for net proceeds of $20.0
million, before deducting underwriting discounts and commissions
and estimated offering expenses payable by Endologix. All of the
shares sold in the offering were sold by Endologix. The offering is
expected to close on October 29, 2018, subject to customary closing
conditions. In addition, Endologix has granted the underwriter a
30-day option to purchase up to an additional $3.0 million of
shares of its common stock.
BTIG, LLC is acting as sole book-running manager for the
offering.
Endologix intends to use the net proceeds from this offering to
redeem all of its $18.3 million 2.25% Convertible Senior Notes due
2018 and to pay related fees, costs, expenses and other related
payments, and the remaining proceeds, if any, for working capital
and general corporate purposes.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on August 3, 2018. Before you invest, you should
read the prospectus in the registration statement and related
preliminary prospectus supplement that Endologix will file with the
SEC for more complete information about Endologix and this
offering. An electronic copy of the prospectus supplement and
accompanying prospectus relating to the offering will be available
on the website of the SEC at www.sec.gov. Copies of the prospectus
supplement, when available, and the accompanying prospectus
relating to the offering may be obtained by contacting BTIG, LLC,
at 825 Third Avenue, 6th Floor, New York, NY, 10022, or by
telephone at (212) 593-7555 or by e-mail at
equitycapitalmarkets@btig.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
ABOUT ENDOLOGIX
Endologix, Inc. develops and manufactures minimally invasive
treatments for aortic disorders. The Company’s focus is
endovascular stent grafts for the treatment of abdominal aortic
aneurysms (AAA). AAA is a weakening of the wall of the aorta, the
largest artery in the body, resulting in a balloon-like
enlargement. Once AAA develops, it continues to enlarge and, if
left untreated, becomes increasingly susceptible to rupture. The
overall patient mortality rate for ruptured AAA is approximately
80%, making it a leading cause of death in the United States. For
more information, visit www.endologix.com.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Any statements contained in this
press release that are not statements of historical fact, including
but not limited to statements regarding the proposed offering of
common stock and the intended use of proceeds of the common stock
offering, are forward-looking statements. Words such as “believes,”
“anticipates,” “plans,” “expects,” “will,” “intends,” “potential,”
“possible” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
include our expectations regarding the proposed offering and the
use of proceeds from such offering and are based on information
available to us as of the date they were made. Forward-looking
statements involve risks, uncertainties and other factors related
to our business and the general economic environment, many of which
are beyond our control. These risks, uncertainties and other
factors could cause our actual results to differ materially and
adversely from those projected in forward-looking statements.
Although we believe that the forward-looking statements contained
herein are reasonable, we can give no assurance that our
expectations are correct. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
For a detailed description of our risks and uncertainties, you are
encouraged to review the Company’s Annual Report on Form 10-K for
the year ended December 31, 2017 and the other documents that the
Company files with the SEC. The Company does not undertake any
obligation to publicly update its forward-looking statements based
on events, conditions or circumstances after the date hereof,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181025005608/en/
Investor:Endologix, Inc.Vaseem
Mahboob, CFO, (949) 595-7200
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