MAKO Surgical Corp. Closes Public Offering of Common Stock
November 19 2012 - 4:05PM
MAKO Surgical Corp. (Nasdaq:MAKO), a medical device company that
markets its RIO® Robotic Arm Interactive Orthopedic surgical
platform, MAKOplasty® joint specific applications and proprietary
RESTORIS® implants that together enable orthopedic surgeons to
consistently, reproducibly and precisely treat patient specific
osteoarthritic disease, today announced that it closed its public
offering of 3,498,300 shares of its common stock, which includes
456,300 shares issued as a result of the underwriter's exercise of
their over-allotment option. The net proceeds to the Company from
the offering are approximately $43 million, after deducting
underwriting discounts, commissions and estimated offering
expenses. Piper Jaffray & Co. acted as the sole manager for the
offering. Moelis & Company acted as financial advisor to MAKO.
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 the securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state.
About MAKO Surgical Corp.
MAKO Surgical Corp. is a medical device company that markets its
RIO® Robotic-Arm Interactive Orthopedic system, joint specific
applications for the knee and hip, and proprietary RESTORIS®
implants for orthopedic procedures called MAKOplasty®. The RIO is a
surgeon-interactive tactile surgical platform that incorporates a
robotic arm and patient-specific visualization technology, which
enables precise, consistently reproducible bone resection for the
accurate insertion and alignment of MAKO's RESTORIS implants. The
MAKOplasty solution incorporates technologies enabled by an
intellectual property portfolio including more than 300 U.S. and
foreign, owned and licensed, patents and patent applications.
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,
unanticipated changes in the timing of the sales cycle for MAKO's
products or the vetting process undertaken by prospective
customers, changes in competitive conditions and prices in MAKO's
markets, delays in MAKO's product development cycles, unanticipated
issues relating to intended product launches, decreases in sales of
MAKO's principal product lines, decreases in utilization of MAKO's
principal product lines or in procedure volume, the effects of
Hurricane Sandy, increases in expenditures related to increased or
changing governmental regulation or taxation of MAKO's business,
both nationally and internationally, unanticipated issues in
complying with domestic or foreign regulatory requirements related
to MAKO's current products, including Medical Device Reporting
requirements and other required reporting to the United States Food
and Drug Administration, or securing regulatory clearance or
approvals for new products or upgrades or changes to MAKO's current
products, the impact of the United States healthcare reform
legislation enacted in March 2010 on hospital spending,
reimbursement, and the taxing of medical device companies, the
potential impact of the informal Securities and Exchange Commission
inquiry and the findings of that inquiry, any unanticipated impact
arising out of the securities class action or any other litigation
brought against MAKO, 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 periodic filings with the Securities and Exchange
Commission, including MAKO's annual report on Form 10-K for the
year ended December 31, 2011 filed on March 8, 2012. 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®," "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 Nicollet Mall, Suite 800
Minneapolis, MN 55402
(800) 747-3924
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