SOUTH JORDAN, Utah, March 29, 2017 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ:MMSI) (“Merit”), a leading manufacturer and marketer of proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology and endoscopy, today announced that it closed its previously announced underwritten public offering of 5,175,000 shares of common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $28.25 per share. The net proceeds to Merit from the offering were approximately $136.5 million (after deducting underwriting discounts and estimated offering expenses payable by Merit). Merit expects to use the net proceeds from the offering to repay debt under its existing long-term credit facility.
BofA Merrill Lynch and Piper Jaffray acted as joint book-running managers and representatives of the underwriters for the offering. Wells Fargo Securities also acted as a joint book-running manager. Canaccord Genuity, Raymond James, and SunTrust Robinson Humphrey acted as co-managers.
The offering was made pursuant to a registration statement on Form S-3 (333-193059) previously filed with, and subsequently declared effective by, the Securities and Exchange Commission. A final prospectus supplement relating to the offering was filed with the SEC and is available on its website (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 will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
ABOUT MERIT
Founded in 1987, Merit Medical Systems, Inc. is engaged in the development, manufacture and distribution of proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology and endoscopy. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 280 individuals. Merit employs approximately 4,500 people worldwide with facilities in South Jordan, Utah; Pearland, Texas; Richmond, Virginia; Malvern, Pennsylvania; Rockland, Massachusetts; San Jose, California; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Tijuana, Mexico; Joinville, Brazil; Markham, Ontario, Canada; Tokyo, Japan; Singapore; and Melbourne, Australia.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “potential,” “forecasts,” “continue,” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology. Forward-looking statements in this release include statements regarding the public offering of shares of common stock and the anticipated use of the net proceeds therefrom, and are subject to a number of risks and uncertainties that may cause actual results or outcomes to be materially different from those expressed or implied by the forward-looking statements. These risks and uncertainties include risks and uncertainties that could affect Merit’s business and financial results described in the preliminary prospectus supplement and accompanying prospectus prepared in connection with the public offering, as well as Merit’s other filings with the SEC, including under the caption “Risk Factors” in Merit’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Forward-looking statements relate only to events as of the date on which the statements are made and actual results or events may differ materially from anticipated results or events. Except as required by law, Merit undertakes no obligation to update or revise any forward-looking statement, even if subsequent events cause its views to change.