WARSAW, Ind., July 18 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. , an independent provider of products to the global orthopedic device industry, announced today the pricing of a public offering of 10,000,000 common shares at $22.25 per share.
The offering consisted of 500,000 shares offered by Symmetry Medical Inc. and the remaining 9,500,000 shares primarily offered by selling stockholders named under “Principle and Selling Stockholders” in the S-1 prospectus filed with the Securities and Exchange Commission. Banc of America LLC and Credit Suisse First Boston LLC acted as joint book-running managers. Piper Jaffray & Co., Wachovia Capital Markets, LLC and William Blair & Company acted as co- managers of the offering. Certain of the selling stockholders have agreed to sell up to an additional 1,500,000 common shares to the underwriters to cover over-allotments, if any.
Proceeds from shares sold by the Company in the offering will be used to repay a portion of existing senior indebtedness and for general corporate purposes.
The registration statement relating to the public offering of common shares has been declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Banc of America Securities LLC dl-prospectusdistribution@bofasecurities.com.
About Symmetry Medical Inc.
Symmetry Medical Inc. is an independent provider of implants and related instruments and cases to the orthopedic device industry. The company also designs, develops and produces these products for companies in other segments of the medical device market, including dental, osteobiologic and endoscopy sectors and provides limited specialized products and services to non-healthcare markets, such as the aerospace market.
Statements in this press release regarding Symmetry Medical Inc.'s business which are not historical facts may be “forward-looking statements” that involve risks and uncertainties. Forward-looking statements frequently are identified by the use of terms such as “may,” “will,” “should,” “expect,” “believe,” “estimate,” “intend” and similar words indicating possible future events or actions. Actual results could differ materially from those projected, implied or anticipated by our forward-looking statements. Certain factors that could cause actual results to differ include: the loss of one or more customers; the development of new products or product innovations by our competitors; product liability; changes in management; changes in conditions affecting the economy, orthopedic device manufacturers or the medical device industry generally; and changes in government regulation of medical devices and third-party reimbursement practices. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s quarterly report on Form 10-Q for the quarter ended April 2, 2005, as well as the Company’s other filings with the Securities and Exchange Commission which are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and Symmetry Medical Inc. undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.
Contact: Investors/Media: The Ruth Group Stephanie Carrington/Jason Rando 646-536-7017/7025 scarrington@theruthgroup.comjrando@theruthgroup.com Symmetry Medical Inc.Andrew Miclot Senior Vice President Marketing, Sales & Business Development Investor Relations Officer 574-269-7390 ext. 1002
Symmetry Medical Inc.
CONTACT: Stephanie Carrington, +1-646-536-7017,scarrington@theruthgroup.com, or Jason Rando, +1-646-536-7025,jrando@theruthgroup.com, both of The Ruth Group for Symmetry Medical Inc.;or Andrew Miclot, Senior Vice President Marketing, Sales & BusinessDevelopment, Investor Relations Officer, +1-574-269-7390 ext. 1002, ofSymmetry Medical Inc.