HOUSTON, June 26, 2020 /PRNewswire/ -- Soliton, Inc.,
(Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device
company with a novel and proprietary platform technology, today
announced the pricing of its underwritten public offering of
4,216,868 shares of common stock at a public offering price of
$8.30 per share. In addition, Soliton
has granted the underwriters a 30-day option to purchase up to an
additional 632,530 shares of common stock. Soliton anticipates the
total gross proceeds from the offering (before deducting the
underwriting discounts and offering expenses) will be $35.0 million, excluding any exercise of the
underwriters' option to purchase additional shares. The offering is
expected to close on June 30, 2020,
subject to customary closing conditions.
![Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from MD Anderson. The Company’s first planned commercial product is designed to use rapid pulses of designed acoustic shockwaves in conjunction with existing lasers to accelerate the removal of unwanted tattoos (RAP device). In addition, higher energy versions of acoustic pulse devices are in early stages of development for potential stand-alone treatment of cellulite and other indications. (PRNewsfoto/Soliton, Inc.) Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from MD Anderson. The Company’s first planned commercial product is designed to use rapid pulses of designed acoustic shockwaves in conjunction with existing lasers to accelerate the removal of unwanted tattoos (RAP device). In addition, higher energy versions of acoustic pulse devices are in early stages of development for potential stand-alone treatment of cellulite and other indications. (PRNewsfoto/Soliton, Inc.)](https://mma.prnewswire.com/media/871205/Soliton_Logo.jpg)
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering. Oppenheimer & Co. Inc. is acting as
lead manager for the offering and Maxim Group LLC is acting as
co-manager for the offering. Roth Capital Partners served as
financial advisor to the Company.
The shares of common stock are being offered by the Company
pursuant to a registration statement previously filed with and
declared effective by the Securities and Exchange Commission (the
"SEC"). The offering will be made only by means of a prospectus,
consisting of a prospectus supplement and an accompanying
prospectus. A final prospectus supplement and an accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus, when filed with the SEC, may also be
obtained from Cantor Fitzgerald & Co., 499 Park Avenue, 6th
Floor, New York, NY 10022, Attn:
Capital Markets Department, or by email at
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities, in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Soliton, Inc.
Soliton, Inc. is a medical device company with a novel and
proprietary platform technology licensed from MD Anderson. The
Company's first FDA cleared commercial product will use rapid
pulses of acoustic shockwaves as an accessory to lasers for the
removal of unwanted tattoos. The Company is based in Houston, Texas, and is actively engaged in
bringing the Rapid Acoustic Pulse ("RAP") device to the market.
Soliton has completed a clinical study using the RAP device to
improve the appearance of cellulite and is investigating potential
additional capabilities of the RAP technology in preclinical
testing. The device is currently cleared in the United States only for use in tattoo
removal and is not yet cleared for use to address cellulite.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995, which statements involve
risks and uncertainties. Forward-looking statements in this press
release include, without limitation, whether the Company will be
successful in closing the offering. These statements relate to
future events, future expectations, plans and prospects. Although
Soliton believes that the expectations reflected in such
forward-looking statements are reasonable as of the date made,
actual results or outcomes may prove to be materially different
from the expectations expressed or implied by such forward-looking
statements. Soliton has attempted to identify forward-looking
statements by terminology including ''believes,'' ''estimates,''
''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,''
''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' "would,"
''should,'' ''approximately'' or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, including those discussed in our filings with the SEC,
including under the heading " Risk Factors" in our Form 10-K for
year ended December 31, 2019 filed
with the SEC and as updated in our Form 10-Q filings and in our
other filings with the SEC. Any forward-looking statements
contained in this release speak only as of its date. Soliton
undertakes no obligation to update any forward-looking statements
contained in this release to reflect events or circumstances
occurring after its date or to reflect the occurrence of
unanticipated events.
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SOURCE Soliton, Inc.