Natus to Raise Approximately $13 Million
April 04 2008 - 7:00AM
Business Wire
Natus Medical Incorporated (Nasdaq:BABY) today announced that it
priced an offering to sell 770,000 shares of its common stock at a
public offering price of $18.27 per share, which is equal to the
closing price of the Company�s common stock on the NASDAQ Global
Market on April 3, 2008. The shares are being sold under the
Company�s previously filed shelf registration statement, which was
declared effective by the Securities and Exchange Commission on
August 15, 2006. The Company expects that the net proceeds of the
offering will be approximately $13.4 million after deducting
underwriting discounts and other expenses associated with the
offering. The Company currently intends to use the net proceeds for
general corporate purposes, which may include the financing of
potential acquisitions of, or investments in, companies and
technologies that complement the Company�s business, as well as for
capital expenditures and working capital needs. The Company does
not expect to use the proceeds to accelerate payments on its
existing term debt with Wells Fargo Bank. In connection with the
offering, the Company also granted the underwriter a 30-day option
to purchase up to an additional 115,500 shares to cover
over-allotments, if any. The offering is expected to close on or
about April 9, 2008. For additional information regarding the terms
of the offering, please refer to the Company�s Current Report on
Form 8-K filed with the Securities and Exchange Commission on April
4, 2008. Roth Capital Partners, LLC acted as the sole underwriter
of the offering. Copies of the final prospectus relating to the
offering may be obtained from Roth Capital Partners, LLC at 24
Corporate Plaza, Newport Beach, CA 92660, (949) 720-5700. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company and
there shall not be any sale of any such securities in a State in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
State. About Natus Medical Incorporated Natus is a leading provider
of healthcare products used for the screening, detection,
treatment, monitoring and tracking of common medical ailments such
as hearing impairment, neurological dysfunction, epilepsy, sleep
disorders, and newborn care. Product offerings include computerized
neurodiagnostic systems for audiology, neurology, polysomnography,
and neonatology, as well as newborn care products such as hearing
screening systems, phototherapy devices for the treatment of
newborn jaundice, head-cooling products for the treatment of brain
injury in newborns, and software systems for managing and tracking
disorders and diseases for public health laboratories. Additional
information about Natus Medical can be found at www.natus.com. This
press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, particularly
statements regarding the expectations, beliefs, plans, intentions
and strategies of Natus. These forward-looking statements include,
but are not limited to, statements regarding the amount to be
raised and the expected use of proceeds. These statements relate to
future events or Natus' future financial performance or results,
and involve known and unknown risks, uncertainties and other
factors that may cause actual results, levels of activity,
performance, or achievements to differ materially from those
expressed or implied by the forward-looking statements.
Forward-looking statements are only predictions and the actual
events or results may differ materially. Natus cannot provide any
assurance that its future results or the results implied by the
forward-looking statements will meet expectations. Our future
results could differ materially due to a number of factors,
including the effects of competition, the demand for our products
and services, our ability to expand our sales in international
markets, our ability to maintain current sales levels in a mature
domestic market, our ability to control costs, and risks associated
with bringing new products to market and integrating acquired
businesses. Natus disclaims any obligation to update information
contained in any forward-looking statement. More information about
potential risk factors that could affect the business and financial
results of Natus is included in Natus' annual report on Form 10-K
for the year ended December 31, 2007, and its quarterly reports on
Form 10-Q, and in other reports filed from time to time by Natus
with the U.S. Securities and Exchange Commission.
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