HAYWARD, Calif., Aug. 2, 2012 /PRNewswire/ -- Solta Medical, Inc.
(NASDAQ: SLTM) today announced that it has priced an underwritten
public offering of 5,700,000 shares of its common stock at
a price to the public of $2.65
per share. Net proceeds, after estimated underwriting
discounts and estimated offering expenses, will be approximately
$14 million. In addition, Solta
Medical has granted the underwriters a 30-day option to purchase up
to an additional 855,000 shares of common stock solely to cover
over-allotments, if any. The offering is expected to close on
or about August 7, 2012, subject to
customary closing conditions. Canaccord Genuity served as
sole book-running manager and Roth Capital Partners served as
co-manager for the offering.
Solta Medical currently intends to use the net proceeds from the
offering for general corporate purposes.
The offering is being made to purchasers pursuant to a
registration statement (File No. 333-181074) previously filed with
and declared effective by the Securities and Exchange Commission,
or SEC. A prospectus supplement and accompanying prospectus
describing the terms of the offering will be filed with the
SEC. When available, copies of the prospectus supplement and
accompanying prospectus may be obtained by contacting Canaccord
Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th
Floor, Boston, Massachusetts
02110, or by telephone at (617) 371-3900. Electronic copies
of the prospectus supplement and accompanying prospectus will also
be available free of charge on the website of the SEC at
www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such jurisdiction.
About Solta Medical
Solta Medical, Inc. is a global leader in the medical aesthetics
market providing innovative, safe, and effective solutions for
patients that enhance and expand the practice of medical aesthetics
for physicians. The company offers products to address a
range of skin issues under the industry´s six premier brands:
Thermage®, Fraxel®, Liposonix®, Isolaz®, CLARO® and Clear +
Brilliant®. Thermage is an innovative, non-invasive radiofrequency
procedure for tightening and contouring skin. As the leader
in fractional laser technology, Fraxel delivers minimally invasive
clinical solutions to resurface aging and sun damaged skin.
The Liposonix system uses advanced high–intensity focused
ultrasound (HIFU) technology to permanently destroy targeted fat
just beneath the skin in the treatment areas of the abdomen and
flanks as a noninvasive, nonsurgical approach to aesthetic waist
circumference reduction. Isolaz was the first laser or light
based system indicated for the treatment of inflammatory acne,
comedonal acne, pustular acne, and mild–to–moderate inflammatory
acne. CLARO is a personal care acne system that is the first
FDA cleared over–the–counter IPL device that uses a powerful
combination of both heat and light to clear skin quickly and
naturally. Clear + Brilliant is a unique, cost–effective
treatment that utilizes safe, fractional laser technology to
correct and prevent early signs of aging and is FDA cleared and CE
marked. Since 2002, over one million Thermage, Fraxel and
Isolaz procedures have been performed in over 100 countries.
For more information about Solta Medical, call 1-877-782-2286 or
log on to www.Solta.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding the closing of the public offering
of common stock described above. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements. These statements are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and assumptions that could cause
actual results to differ materially from those described in the
forward-looking statements, including, among others, the ability to
manage successfully and complete the public offering, general
economic and/or market conditions and the factors set forth in the
Company's filings with the SEC, including the Company's Annual
Report on Form 10-K for the year ended December 31, 2011, the Company's Quarterly Report
on Form 10-Q for the quarter ended March 31, 2012, the Company's Quarterly Report on
Form 10-Q for the quarter ended June 30,
2012 and the prospectus supplement related to this public
offering. The Company undertakes no obligation to update the
forward-looking statements contained herein or to reflect events or
circumstances occurring after the date hereof, other than as may be
required by applicable law.
SOURCE Solta Medical, Inc.