Obagi Medical Products, Inc. Announces Pricing Of Its Initial Public Offering

LONG BEACH, Calif.--(BUSINESS WIRE)--Obagi Medical Products, Inc. (NASDAQ:OMPI - News) today announced the pricing of its initial public offering of 5,350,000 shares of its common stock at a price of $11.00 per share. Of these shares, 4,000,000 are being sold by Obagi, and 1,350,000 are being sold by certain selling stockholders of Obagi. The underwriters also have an option for a period of 30 days to purchase up to 802,500 additional shares of common stock from selling stockholders to cover over-allotments, if any. Estimated net proceeds to Obagi will be $38.4 million, after deducting underwriting discounts and commissions and estimated offering expenses. Obagi will not receive any proceeds from the sale of shares by the selling stockholders. Obagi's common stock will begin trading today on the NASDAQ Global Market under the symbol "OMPI."

J.P. Morgan Securities Inc. served as sole book-runner of the offering, with CIBC World Markets Corp., Thomas Weisel Partners LLC and Robert W. Baird & Co. Incorporated acting as co-managers of the offering.

The registration statement relating to the initial public offering of common shares was declared effective by the Securities and Exchange Commission on December 13, 2006. This press release does not constitute an offer to sell or the solicitation of an offer to buy. A copy of the final prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, or by calling 718-242-8002.

About Obagi Medical Products, Inc.

Obagi (www.obagi.com) is a specialty pharmaceutical company focused on the aesthetic and therapeutic skin health markets. Obagi develops and commercializes prescription-based, topical skin health systems that enable physicians to treat a range of skin conditions, including pre-mature aging, photodamage, hyperpigmentation (irregular or patchy discoloration of the skin), acne and soft tissue deficits, such as fine lines and wrinkles. Obagi markets and sells physician-dispensed skin care systems directly to plastic surgeons, dermatologists and other physicians who are focused on aesthetic and therapeutic skin care. Obagi branded products are available throughout the United States as well as in over 35 countries around the world.

Contact: Obagi Medical Products, Inc. Curtis A. Cluff, 562-491-6011 Executive VP, Corp Development curtisc@obagi.com

Source: Obagi Medical Products, Inc.

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