Bay Area's Intersect ENT Secures $55 Million After Hitting The Low End Of Its IPO Range

Intersect ENT Announces Pricing of Its Initial Public Offering

MENLO PARK, Calif., July 24, 2014 (GLOBE NEWSWIRE) -- Intersect ENT, Inc., a commercial drug-device company committed to improving the quality of life for patients with ear, nose and throat conditions, today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $11.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Intersect ENT. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol "XENT" on July 24, 2014. In addition, Intersect ENT has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock from Intersect ENT at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about July 29, 2014, subject to customary closing conditions.

J.P. Morgan Securities LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Leerink Partners and Wedbush PacGrow Life Sciences are acting as co-managers.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on July 23, 2014.

The offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to these securities may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or from Piper Jaffray & Co., 800 Nicollet Mall, Suite 1000, Minneapolis, MN 55402, Telephone: 800-747-3924, Email: prospectus@pjc.com.

This press release shall not constitute an offer to sell or a 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 Intersect ENT

Intersect ENT, Inc. is a commercial drug-device company committed to improving the quality of life for patients with ear, nose and throat conditions. Intersect ENT's initial products, PROPEL and PROPEL mini, are the first and only drug-eluting implants approved by the U.S. Food and Drug Administration for use in patients with chronic sinusitis.

Forward-Looking Statements

The statement contained in this press release regarding the anticipated closing date of the offering is a "forward-looking statement" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statement is subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statement include uncertainties related to market conditions and the risk that the conditions to closing the public offering may not be met. Risks and uncertainties relating to Intersect ENT and its business can be found in the "Risk Factors" section of Intersect ENT's Amendment No. 3 to Form S-1, filed with the SEC on July 18, 2014 (No. 333-196974) related to the offering. Intersect ENT undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Intersect ENT's expectations.

Media Contact:
Nicole Osmer
650.454.0504

Investor Contact:
Jeri Hilleman
650.641.2105

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