MAKO Surgical Corp. Announces the Sale of Common Stock
November 03 2010 - 4:24PM
MAKO Surgical Corp. (Nasdaq:MAKO), a medical device company that
markets both its RIO® Robotic Arm Interactive Orthopedic surgical
platform and proprietary RESTORIS® implants for minimally invasive
orthopedic procedures known as knee MAKOplasty®, today announced
that it intends, subject to market conditions, to offer common
stock pursuant to an underwriting agreement with Piper Jaffray
& Co. acting as the sole bookrunner.
The Company expects to use the net proceeds from the sale of the
shares for general corporate purposes. Closing of the offering is
expected to occur on or about November 8, 2010, subject to
customary closing conditions.
The offering is being made pursuant to an effective shelf
registration statement. Before you invest, you should read the base
prospectus in such shelf registration statement, the prospectus
supplement, when available, and other documents the Company has
filed with the Securities and Exchange Commission for more complete
information about the Company and this offering. The offering may
be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained by
contacting Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800,
Minneapolis, MN 55402, or by telephone at (800) 747-3924.
Alternatively, you may get these documents for free by visiting
EDGAR on the SEC website at 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, nor shall
there be any sale of these securities, in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About MAKO Surgical Corp. MAKO Surgical Corp.
is a medical device company that markets both its RIO® Robotic-Arm
Interactive Orthopedic system and its proprietary RESTORIS® knee
implants for a minimally invasive orthopedic procedure called knee
MAKOplasty®. The MAKO RIO is a surgeon-interactive tactile surgical
platform that incorporates a robotic arm and patient-specific
visualization technology and prepares the knee joint for the
insertion and alignment of MAKO's resurfacing RESTORIS implants
through a minimal incision. The FDA-cleared and CE Marked RIO
system allows surgeons to provide precise, consistently
reproducible tissue-sparing, bone resurfacing for a large, yet
underserved patient population suffering from early to mid-stage
osteoarthritic knee disease. MAKO has an intellectual property
portfolio of more than 250 owned or licensed patents and patent
applications relating to the areas of robotics, haptics, computer
assisted surgery and implants. Additional information can be found
at www.makosurgical.com.
Forward-Looking Statements
This press release contains forward-looking statements
regarding, among other things, statements related to expectations,
goals, plans, objectives and future events. MAKO intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Reform Act of 1995. In some cases, forward-looking statements can
be identified by the following words: "may," "will," "could,"
"would," "should," "expect," "intend," "plan," "anticipate,"
"believe," "estimate," "predict," "project," "potential,"
"continue," "ongoing" or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. These statements are based on the current
estimates and assumptions of our management as of the date of this
press release and are subject to risks, uncertainties, changes in
circumstances, assumptions and other factors that may cause actual
results to differ materially from those indicated by
forward-looking statements, many of which are beyond MAKO's ability
to control or predict. Such factors, among others, may have a
material adverse effect on MAKO's business, financial condition and
results of operations and may include the potentially significant
impact of a continued economic downturn or delayed economic
recovery on the ability of MAKO's customers to secure adequate
funding, including access to credit, for the purchase of MAKO's
products or cause MAKO's customers to delay a purchasing decision,
changes in competitive conditions and prices in MAKO's markets,
unanticipated issues relating to intended product launches,
decreases in sales of MAKO's principal product lines, increases in
expenditures related to increased or changing governmental
regulation or taxation of MAKO's business, unanticipated issues in
securing regulatory clearance or approvals for new products or
upgrades or changes to MAKO's current products, the impact of the
recently enacted United States healthcare reform legislation on
hospital spending, reimbursement, and the taxing of medical device
companies, loss of key management and other personnel or inability
to attract such management and other personnel and unanticipated
intellectual property expenditures required to develop, market, and
defend MAKO's products. These and other risks are described in
greater detail under Item 1A, "Risk Factors," in MAKO's annual
report on Form 10-K for the year ended December 31, 2009 filed with
the Securities and Exchange Commission on March 10, 2010 and
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission from time to time. Given these uncertainties,
undue reliance should not be placed on these forward-looking
statements. MAKO does not undertake any obligation to release any
revisions to these forward-looking statements publicly to reflect
events or circumstances after the date of this press release or to
reflect the occurrence of unanticipated events.
"MAKOplasty®," "RESTORIS®," and "RIO®," as well as the "MAKO"
logo, whether standing alone or in connection with the words "MAKO
Surgical Corp." are trademarks of MAKO Surgical Corp.
CONTACT: Piper Jaffray & Co.
(800) 747-3924
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