MAKO Surgical Corp. Announces Closing of Public Offering of Common Stock and Exercise of Underwriter's Over-Allotment Option
November 08 2010 - 4:05PM
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 has closed the public offering of 6,325,000 shares of its
common stock, which includes 825,000 shares issued and sold as a
result of the underwriter's exercise of its option to purchase
additional shares to cover over-allotments. Piper Jaffray & Co.
acted as the sole underwriter for the offering.
MAKO plans to use the net proceeds of approximately $59.2
million, after deducting estimated expenses of the offering, to
support commercialization, sales, marketing and general
administrative activities, for research and product development
activities and to fund working capital and other general corporate
purposes.
The offering was made only by means of a prospectus and related
prospectus supplement, 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. Electronic copies of the prospectus and the
prospectus supplement are available on the Securities and Exchange
Commission's website at www.sec.gov.
This press release does 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 an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities law of 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.
CONTACT: Piper Jaffray & Co.
(800) 747-3924
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