HAYWARD, Calif., Aug. 7, 2012 /PRNewswire/ -- Solta Medical,
Inc. (NASDAQ: SLTM) today announced that it has closed its
previously announced underwritten public offering of 6,555,000
shares of its common stock at a purchase price of $2.65 per share, which includes 855,000 shares of
common stock issued upon full exercise of the underwriters'
over-allotment option. Net proceeds, after underwriting
discounts and commissions and estimated expenses, will be
approximately $16.1 million.
Canaccord Genuity acted as sole book-runner for the offering and
Roth Capital Partners acted as co-manager.
Solta Medical currently intends to use the net proceeds from the
offering for general corporate purposes.
The offering was made to purchasers pursuant to an effective
shelf registration statement (File No. 333-181074), and a
prospectus supplement and accompanying prospectus describing the
terms of the offering, all of which were filed with the Securities
and Exchange Commission, or SEC. 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 are also available free of charge on
the website of the SEC at http://www.sec.gov.
This press release does not constitute an offer to sell or the
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 use of the net proceeds from
the offering 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.