IRADIMED CORPORATION Announces Pricing of Secondary Offering of Common Stock
December 18 2015 - 8:31AM
IRADIMED CORPORATION (the “Company”) (NASDAQ:IRMD), today
announced the pricing of an underwritten secondary offering of
1,043,479 shares of its common stock by Roger Susi, the President
and Chief Executive of the Company (the “Selling
Shareholder”). The Selling Shareholder has also granted the
underwriters a 30-day option to acquire an additional 156,521
shares to cover overallotments in connection with the
offering. The shares will be offered at a price of $24.25 per
share. The offering is expected to close on December 23,
2015, subject to customary closing conditions.
Roth Capital Partners is acting as the sole manager for the
offering.
The Company will not receive any proceeds from the
offering.
The shares described above are being offered by the Selling
Stockholder pursuant to the Company’s shelf registration statement
filed with the Securities and Exchange Commission (“SEC”). An
electronic preliminary prospectus relating to the offering has been
filed with the SEC and is available on the SEC’s website at
http://www.sec.gov. Also, a prospectus supplement relating to
the offering will be filed with the SEC and will be available on
the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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. Copies of the
preliminary prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from Roth Capital
Partners, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147
or by accessing the SEC’s website, www.sec.gov.
Forward-Looking Statements
This press release includes forward-looking statements as
defined in the Private Securities Litigation Act of 1995,
particularly statements regarding expectations about future events
affecting the Company and are subject to risks and uncertainties,
all of which are difficult to predict and many of which are beyond
the Company’s control and could cause the Company’s actual results
to differ materially and adversely from those expressed in its
forward-looking statements as a result of various factors,
including but not limited to: risks related to the Company’s
assumptions regarding its ability to receive approval of its 510(k)
submission, additional actions by or requests from the FDA and
unanticipated costs or delays associated with resolution of these
matters; as well as other factors discussed in the “Risk Factors”
section of the Company’s most recent reports filed with the
Securities and Exchange Commission (“SEC”), which may be obtained
for free at the SEC’s website at www.sec.gov. There can be no
guarantee that the Company’s efforts with the FDA will be
successful. Although the Company believes that the
expectations reflected in its forward-looking statements are
reasonable, it does not know whether its expectations will prove
correct. All forward-looking statements included in this press
release are expressly qualified in their entirety by the foregoing
cautionary statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of today’s date. The Company does not undertake any
obligation to update, amend or clarify these forward-looking
statements or the “Risk Factors” contained in the Company’s most
recent reports filed with the SEC, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
About IRADIMED CORPORATION
IRADIMED CORPORATION is the only known provider of
non-magnetic intravenous (“IV”) infusion pump systems that are
designed to be safe for use during magnetic resonance imaging
(“MRI”) procedures. Other electromechanical medical devices and
pumps contain magnetic and electronic parts that are potentially
dangerous to operate in the presence of the powerful magnet that
drives an MRI. Our MRidium 3860+ MRI compatible IV infusion pump
system has been designed with non-ferrous parts, ceramic ultrasonic
motors, non-magnetic mobile stands and other special features in
order to safely and predictably deliver anesthesia and other IV
fluids during various MRI procedures. Our pump solution provides a
seamless approach to providing IV fluids before, during and after
an MRI scan, which is important to critically-ill patients who
cannot be removed from their vital medications, and children and
infants who must generally be sedated in order to remain immobile
during an MRI scan.
MRidium is a trademark of IRADIMED CORPORATION.
For more information please visit www.iradimed.com.
Media Contact:
Chris Scott
Chief Financial Officer
IRADIMED CORPORATION
(407) 677-8022
InvestorRelations@iradimed.com
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