PROCEPT BioRobotics® Corporation announced the pricing of an upsized underwritten public offering of 4,422,169 shares of its common stock at a public offering price of $33.92 per share, before underwriting discounts and commissions, for aggregate gross proceeds of approximately $150 million.
REDWOOD CITY, Calif., Aug. 01, 2023 (GLOBE NEWSWIRE) -- PROCEPT BioRobotics® Corporation (NASDAQ: PRCT) (“PROCEPT BioRobotics”), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today announced the pricing of an upsized underwritten public offering of 4,422,169 shares of its common stock at a public offering price of $33.92 per share, before underwriting discounts and commissions, for aggregate gross proceeds of approximately $150 million. In addition, PROCEPT BioRobotics has granted the underwriters a 30-day option to purchase up to an additional 663,325 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are to be sold by PROCEPT BioRobotics. The offering is expected to close on or about August 4, 2023, subject to customary closing conditions.
BofA Securities, Piper Sandler and TD Cowen are acting as joint book-running managers for the proposed offering. Truist Securities is acting as co-manager.
The securities are being offered pursuant to an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 1, 2023. This offering is being made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.
A preliminary prospectus supplement related to the offering (including the accompanying prospectus) has been filed with the SEC and is available on the SEC’s website located at www.sec.gov. A final prospectus supplement related to the offering (including the accompanying prospectus) will be filed with the SEC. Copies of the preliminary prospectus supplement and the final prospectus supplement, when available, and the accompanying prospectus may also be obtained, from BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or via email: dg.prospectus_requests@bofa.com; from Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, by telephone at (800) 747-3924, or via e-mail at prospectus@psc.com; and from Cowen and Company, LLC, 599 Lexington Avenue, New York, New York 10022, by telephone at (833) 297-2926, or via e-mail at Prospectus_ECM@cowen.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT BioRobotics develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. PROCEPT BioRobotics designed Aquablation therapy to deliver effective, safe and durable outcomes for males suffering from lower urinary tract symptoms, or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. PROCEPT BioRobotics has developed a significant and growing body of clinical evidence, which includes nine clinical studies and approximately 150 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including without limitation statements regarding the expected closing of the public offering are forward-looking statements reflecting the current beliefs and expectations of PROCEPT BioRobotics’s management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent PROCEPT BioRobotics’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of PROCEPT BioRobotics’s common stock, and risks relating to PROCEPT BioRobotics’s business, including those risks described in periodic reports that PROCEPT BioRobotics files from time to time with the SEC, as well as the preliminary prospectus supplement and accompanying prospectus relating to the offering. The forward-looking statements included in this press release speak only as of the date of this press release, and PROCEPT BioRobotics does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
Investor Contact:
Matt Bacso, CFA
VP, Investor Relations and Business Operations
m.bacso@procept-biorobotics.com
