Thursday, August 20, 2015

News: LDR Holding Corporation Announces Closing of Public Offering and Underwriters' Full Exercise of Option to Purchase Additional Shares

Image result for LDR Corporation
AUSTIN, Texas, Aug. 18, 2015 (GLOBE NEWSWIRE) -- LDR Holding Corporation (NASDAQ:LDRH) ("LDR" or the "Company"), a global medical device company focused on designing and commercializing novel and proprietary spinal surgical technologies, today announced the closing of its public offering of 2,300,000 shares of its common stock, at a price to the public of $40.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 300,000 shares of common stock. The total net proceeds from the offering are estimated to be approximately $86.5 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by LDR.

Piper Jaffray and William Blair acted as joint book-running managers for the offering. Cowen and Company and RBC Capital Markets acted as co-lead managers. BMO Capital Markets, JMP Securities, Stephens Inc. and Brean Capital acted as co-managers.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-199882) that was initially filed with the U.S. Securities and Exchange Commission (the "SEC") on November 5, 2014. A prospectus supplement describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from the offices of Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at and William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at 800-621-0687, or by email at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction.

About LDR Holding Corporation
LDR Holding Corporation is a global medical device company focused on designing and commercializing novel and proprietary surgical technologies for the treatment of patients suffering from spine disorders. LDR's primary products are based on its exclusive VerteBRIDGE® fusion and Mobi® non-fusion technology platforms and are designed for applications in the cervical and lumbar spine. These technologies are designed to enable products that are less invasive, provide greater intra-operative flexibility, offer simplified surgical techniques and promote improved clinical outcomes for patients as compared to existing alternatives. In August 2013, LDR received approval from the U.S. Food and Drug Administration (FDA) for the Mobi-C® cervical disc replacement device, the first and only cervical disc replacement device to receive FDA approval to treat both one-level and two-level cervical disc disease.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief or current expectations of LDR and members of its management team with respect to LDR's future business operations as well as the assumptions upon which such statements are based. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found in LDR's Risk Factors disclosure in its Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q, and in its other filings with the Securities and Exchange Commission as well as the risks identified in the registration statement and the prospectus supplement relating to the offering. LDR disclaims any responsibility to update any forward-looking statements.

Robert McNamara
Executive Vice President and Chief Financial Officer
LDR Holding Corporation (512) 344-3333
LDR Holding Corporation
Matthew Norman Director, Investor Relations
(512) 344-3408

Published at Nasdaq Globe Newswire

No comments:

Post a Comment