FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 20, 2006--Home Diagnostics, Inc. (Nasdaq:HDIX - News) today announced the pricing of its initial public offering of 6,599,487 shares of common stock at a price of $12 per share, 3,300,000 of which are being sold by Home Diagnostics, Inc. and the remainder by selling stockholders. Certain of the selling stockholders have granted the underwriters an option to purchase up to an additional 990,000 shares of common stock to cover over-allotments, if any. Home Diagnostics, Inc. will not receive any proceeds from the sale of shares by the selling stockholders.
Home Diagnostics, Inc. intends to use the net proceeds from the offering to redeem all of its outstanding preferred stock, to purchase manufacturing equipment for new product development, to repay indebtedness under its revolving credit, and the remaining balance will be used for general corporate purposes.
JP Morgan served as sole book-runner of the offering, with Piper Jaffray as joint-lead manager and Deutsche Bank and William Blair & Company, LLC, acting as co-managers of the offering.
Home Diagnostics, Inc. common stock will trade on the NASDAQ National Market under the symbol “HDIX.”
The offering is made only by means of a prospectus, copies of which can be obtained from JP Morgan Prospectus Department, phone 718-242-8002 or mail to JP Morgan, 4 Chase Metrotech Center, Floor L2, Brooklyn, NY 11245.
The registration statement relating to the initial 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.
About Home Diagnostics, Inc.
Based in Fort Lauderdale, Florida, Home Diagnostics, Inc. is a leading manufacturer and marketer of diabetes testing supplies. With a portfolio of blood glucose monitors that spans the spectrum from standard to advanced systems, Home Diagnostics, Inc. offers products that can help every person with diabetes better monitor and manage their disease. The Home Diagnostics, Inc. product line includes the Sidekick® Testing System, TrueTrack Smart System®, TrackEASE Smart System®, and Prestige Smart System® blood glucose monitor. For more information please visit http://www.homediagnostics.com.
Forward-Looking Statements
The above statements include forward-looking statements and are subject to risks and uncertainties. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. The statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events.
All statements other than statements of historical facts included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements.
These forward-looking statements are largely based on our expectations and beliefs concerning future events, which reflect estimates and assumptions made by the Company’s management. These estimates and assumptions reflect the Company’s best judgment based on currently known market conditions and other factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond its control.
Although the Company believes its estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond the Company’s control. In addition, management’s assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this release are not guarantees of future performance, and the Company cannot assure any reader that those statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to the factors listed in the “Risk factors” and “Management’s discussion and analysis of financial condition and results of operations” sections contained in its filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by law. These cautionary statements qualify all forward-looking statements attributable to the Company or persons acting on its behalf.
Contact: Home Diagnostics, Fort Lauderdale Sabrina Rios, 954-332-2141 srios@hdidiabetes.com or The Ruth Group (investors) Stephanie Carrington, 646-536-7017 scarrington@theruthgroup.com or Nick Laudico, 646-536-7030 nlaudico@theruthgroup.com or The Ruth Group (media) Jason Rando, 646-536-7025 jrando@theruthgroup.com or Catherine Bright, 646-536-7013 cbright@theruthgroup.com
Source: Home Diagnostics, Inc.
