SAN CARLOS, Calif.--(BUSINESS WIRE)--Aug. 18, 2006--Natus Medical Incorporated (Nasdaq:BABY - News) today announced that it priced an offering to sell 2,300,000 shares of its common stock at a price of $11.63 per share. The shares are being sold under the Company’s previously filed shelf registration statement, which was declared effective by the Securities and Exchange Commission on August 15, 2006.
The Company expects that the net proceeds of the offering will be approximately $25 million after deducting underwriting commissions and discounts and other expenses associated with the offering. The Company currently intends to use the proceeds for general corporate purposes, which may include the financing of potential acquisitions of, or investments in, companies and technologies that complement the Company’s business, as well as for capital expenditures and working capital needs. The Company may also use a portion of the proceeds to repay some or all of the remaining balance on its senior secured credit facility with Wells Fargo Bank.
In connection with the offering, the Company also granted the underwriter a 30-day option to purchase up to an additional 345,000 shares to cover over-allotments, if any. The offering is expected to close on or about August 23, 2006.
Roth Capital Partners, LLC acted as the sole underwriter of the offering. Copies of the final prospectus relating to the offering may be obtained from Roth Capital Partners, LLC at 24 Corporate Plaza Drive, Newport Beach, CA 92660, (949) 720-5700.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company and there shall not be any sale of any such securities in a State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State.
About Natus Medical Incorporated
Natus is a leading provider of healthcare products used for screening, detection, treatment, monitoring and tracking of common medical ailments such as hearing impairment, neurological dysfunction, epilepsy, sleep disorders, newborn jaundice and newborn metabolic testing.
Additional information about Natus Medical can be found at www.natus.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, particularly statements regarding the expectations, beliefs, plans, intentions and strategies of Natus. These forward-looking statements include, but are not limited to, statements regarding the amount to be raised and the expected use of proceeds. These statements relate to future events or Natus’ future financial performance or results, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements are only predictions and the actual events or results may differ materially. Natus cannot provide any assurance that its future results or the results implied by the forward-looking statements will meet expectations. Our future results could differ materially due to a number of factors, including the effects of competition, the demand for our products and services, our ability to expand our sales in international markets, our ability to maintain current sales levels in a mature domestic market, our ability to control costs, and risks associated with bringing new products to market and integrating acquired businesses. Natus disclaims any obligation to update information contained in any forward-looking statement.
More information about potential risk factors that could affect the business and financial results of Natus is included in the registration statement on Form S-3, and Natus’ annual report on Form 10-K for the year ended December 31, 2005, quarterly reports on Form 10-Q, and in other reports filed from time to time by Natus with the U.S. Securities and Exchange Commission.
Contact: Natus Medical Incorporated Steven J. Murphy, 650-802-0400 InvestorRelations@Natus.com
Source: Natus Medical Incorporated
