Invuity Announces Closing of Public Offering of Common Stock and Underwriters’ Full Exercise of Option to Purchase Addition...
August 02 2016 - 5:18PM
Invuity, Inc. (NASDAQ:IVTY) ("Invuity" or the "Company"), a leading
surgical photonics company, today announced the closing of its
public offering of 3,220,000 shares of its common stock at a price
to the public of $10.00 per share, which includes the exercise in
full by the underwriters of their option to purchase an additional
420,000 additional shares of common stock. The total net proceeds
from the offering are estimated to be approximately $29.9 million,
after deducting underwriting discounts and commissions and
estimated offering expenses payable by Invuity.
Piper Jaffray & Co. and Leerink Partners LLC acted as joint
book-running managers for the offering. William Blair &
Company, L.L.C. acted as a co-manager for the offering.
The offering was made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-212395) that was
initially filed with the U.S. Securities and Exchange Commission
(the "SEC") on July 1, 2016. A final prospectus supplement
describing the terms of the offering has been filed with the SEC
and forms a part of the effective registration statement. Copies of
the final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained from the offices of Piper
Jaffray & Co., Attention: Prospectus Department, 800 Nicollet
Mall, J12S03, Minneapolis, MN 55402, or by e-mail at
prospectus@pjc.com or by telephone at (800) 747-3924 or
Leerink Partners LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA 02110, or by e-mail at
Syndicate@Leerink.com or by telephone at (800) 808-7525 ext.
6142.
This press release shall not constitute an offer to sell or 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 Invuity®
Invuity, Inc. is a medical technology company focused on
developing and marketing advanced photonics devices to improve the
ability of surgeons to illuminate and visualize the surgical cavity
during open minimally invasive and minimal access surgery. The
Company's patented Intelligent Photonics™ technology enables
enhanced surgical precision, efficiency and safety by providing
superior visualization. Clinical applications include breast and
thyroid oncology, plastic reconstructive, spine, orthopedic,
cardiothoracic and general surgery among others. Invuity is
headquartered in San Francisco, CA.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to a number of risks and uncertainties which may cause
actual results or outcomes to be materially different from those
expressed or implied by the forward-looking statements. These risks
and uncertainties include the risks associated with the actual use
of proceeds from the offering and the discretion of Invuity’s
management to determine how to use such proceeds, as well as the
risks and uncertainties that could affect the Company’s business
and financial results described in the final prospectus supplement
and registration statement referenced above and the Company’s other
filings with the SEC, including, without limitation, under the
caption “Risk Factors." Forward-looking statements relate
only to events as of the date on which the statements are made, and
the Company undertakes no obligation to publicly update or review
any forward-looking statement.
CONTACT:
Company Contact:
Jim Mackaness
Chief Financial Officer
Invuity, Inc.
415-655-2129
Investors:
Mark Klausner
Westwicke Partners
443-213-0501
irdept@invuity.com
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