WEST CHESTER, Ohio--(BUSINESS WIRE)--Jan. 16, 2013--
AtriCure, Inc. (Nasdaq: ATRC), a medical device company and a leader in
cardiac surgical ablation systems for the treatment of atrial
fibrillation, or AF, and systems for the exclusion of the left atrial
appendage, today announced the pricing of its previously announced
underwritten public offering of 3,475,000 shares of its common stock at
a public offering price of $7.25 per share. In connection with the
offering, AtriCure has also granted the underwriter a 30-day option to
purchase up to an additional 521,250 shares of common stock to cover
over-allotments, if any. Piper Jaffray & Co. is acting as the sole
manager for the offering.
Net proceeds from the sale of the shares after underwriting discounts
and commissions and other offering expenses are expected to be
approximately $23.5 million. The offering is subject to customary
closing conditions and is expected to close on Tuesday, January 22, 2013.
AtriCure plans to use the net proceeds from the offering for general
corporate purposes and working capital.
The offering was made pursuant to a prospectus supplement to AtriCure’s
prospectus, dated July 20, 2011, filed as part of AtriCure’s effective
$50 million shelf registration statement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or other
jurisdiction.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to these securities may be obtained by contacting
Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet
Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or
by email at prospectus@pjc.com.
About AtriCure, Inc.
AtriCure, Inc. is a medical device company and a leader in developing,
manufacturing and selling innovative cardiac surgical ablation systems
designed to create precise lesions, or scars, in cardiac, or heart,
tissue for the treatment of atrial fibrillation, or AF, and systems for
the exclusion of the left atrial appendage. The Company believes
cardiothoracic surgeons are adopting its ablation products for the
treatment of AF during concomitant open-heart surgical procedures and
sole-therapy minimally invasive procedures. AF affects more than 5.5
million people worldwide and predisposes them to a five-fold increased
risk of stroke. The FDA has not cleared or approved certain AtriCure
products for the treatment of AF or a reduction in the risk of stroke.
Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address activities,
events or developments that AtriCure expects, believes or anticipates
will or may occur in the future, such as earnings estimates, other
predictions of financial performance, launches by AtriCure of new
products and market acceptance of AtriCure’s products. Forward-looking
statements are based on AtriCure’s experience and perception of current
conditions, trends, expected future developments and other factors it
believes are appropriate under the circumstances and are subject to
numerous risks and uncertainties, many of which are beyond AtriCure’s
control. These risks and uncertainties include the rate and degree of
market acceptance of AtriCure’s products, AtriCure’s ability to develop
and market new and enhanced products, the timing of and ability to
obtain and maintain regulatory clearances and approvals for its
products, the timing of and ability to obtain reimbursement of
procedures utilizing AtriCure’s products, competition from existing and
new products and procedures or AtriCure’s ability to effectively react
to other risks and uncertainties described from time to time in
AtriCure’s SEC filings, such as fluctuation of quarterly financial
results, reliance on third party manufacturers and suppliers, litigation
or other proceedings, government regulation and stock price volatility.
AtriCure does not guarantee any forward-looking statement, and actual
results may differ materially from those projected. AtriCure undertakes
no obligation to publicly update any forward-looking statement, whether
as a result of new information, future events or otherwise.
Source: AtriCure, Inc.
AtriCure, Inc.
Andy Wade, Vice President and Chief
Financial Officer, 513-755-4564
awade@atricure.com
or
Investor
Relations Contact:
Westwicke Partners
Lynn Pieper,
415-202-5678
Lynn.pieper@westwicke.com
