WEST CHESTER, Ohio--(BUSINESS WIRE)--Feb. 13, 2014--
AtriCure, Inc. (Nasdaq: ATRC), a leading atrial fibrillation medical
device provider, today announced the pricing of its previously announced
underwritten public offering of 4,250,000 shares of its common stock at
a public offering price of $19.25 per share. AtriCure is offering
3,023,025 shares and selling stockholders are offering 1,226,975 shares
of common stock. In connection with the offering, AtriCure has also
granted the underwriter a 30-day option to purchase up to an additional
637,500 shares of common stock to cover over-allotments, if any.
Net proceeds from the sale of the shares by AtriCure after underwriting
discounts and commissions and other offering expenses are expected to be
approximately $54.4 million. AtriCure plans to use the net proceeds from
the offering for general corporate purposes and working capital. The
offering is subject to customary closing conditions and is expected to
close on Wednesday, February 19, 2014.
Piper Jaffray & Co. is acting as the sole book-running manager.
Canaccord Genuity Inc., Leerink Partners LLC, Stifel and Barrington
Research Associates are acting as co-managers for the offering.
The offering was made pursuant to a prospectus supplement to AtriCure’s
prospectus, dated January 15, 2014, filed as part of AtriCure’s
effective $150 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
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 firstname.lastname@example.org.
About AtriCure, Inc.
AtriCure, Inc. is a medical device company providing innovative atrial
fibrillation (Afib) solutions designed to produce superior outcomes that
reduce the economic and social burden of atrial fibrillation. AtriCure’s
Synergy Ablation System is the first and only device approved for the
treatment of Persistent and Longstanding Persistent forms of Afib in
patients undergoing certain open concomitant procedures. AtriCure’s
AtriClip Left Atrial Appendage (LAA) exclusion device is the most widely
implanted device for LAA management worldwide. The company believes
cardiothoracic surgeons are adopting its ablation and LAA management
devices for the treatment of Afib and reduction of Afib related
complications such as stroke. Afib affects more than 5.5 million people
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 AtriCure’s expectations
regarding the completion of the public offering, earnings estimates
(including projections and guidance), 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, AtriCure’s ability to consummate acquisitions or, if
consummated, to successfully integrate acquired businesses into
AtriCure’s operations, AtriCure’s ability to recognize the benefits of
acquisitions, including potential synergies and cost savings, failure of
an acquisition or acquired company to achieve its plans and objectives
generally, risk that proposed or consummated acquisitions may disrupt
operations or pose difficulties in employee retention or otherwise
affect financial or operating results, 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. A further list
and description of risks, uncertainties and other matters can be found
in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.
Source: AtriCure, Inc.
Andy Wade, Vice President and Chief Financial