SAN MATEO, Calif., May 5 /PRNewswire-FirstCall/ -- BioForm Medical, Inc. announced today that lock-up agreements entered into with its underwriters in conjunction with its initial public offering will be extended 18 days beyond the Company's May 1, 2008 earnings release. The lock-up period was due to expire on May 3, but the Company's underwriting agreement provided for an extension, depending on the timing of BioForm Medical's quarterly earnings press release. The first sales of shares restricted by the underwriter's lock-up may take place on Tuesday, May 20, 2008. Approximately 33 million shares will become eligible for sale in the public market upon expiration of the underwriters' lock-up, of which approximately 10 million shares will be freely tradable under Rule 144(b) and the remainder will be held by affiliates and other stockholders subject to the volume and other restrictions of Rule 144.
An additional number of shares equal to less than 5.0% of the shares outstanding prior to the November 2007 initial public offering were either not subject to a lock-up agreement or were subject to a lock-up agreement with the Company, the terms of which were less restrictive than the lock-up agreement with the underwriters, and, as such, became freely tradeable on May 5, 2008.
About BioForm Medical, Inc.:
BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California, developing products that enhance aesthetic procedures performed in dermatology and plastic surgery practices. BioForm's lead product is Radiesse(R), a long-lasting dermal filler for use in facial aesthetics. BioForm is developing several future aesthetics products including a nerve ablation device for frown lines, a sclerotherapy treatment for spider veins, and a surgical adhesive for brow lifts.
CONTACT: Adam Gridley, Vice President, Corporate Development of BioForm
Medical, Inc., +1-650-286-4025
Web site: http://www.bioformmedical.com//