MINNEAPOLIS, Dec. 21 /PRNewswire-FirstCall/ -- Uroplasty, Inc. a Minnetonka, Minnesota-based medical device company that develops, manufactures and markets innovative, proprietary products for the treatment of voiding dysfunctions, announced today the pricing of a follow-on offering of 2.4 million shares of its common stock at $2.00 per share. The offering is expected to close on December 27, 2006, subject to customary closing conditions. The Company expects to use the net proceeds of $4.4 million, after underwriting commissions and estimated offering expenses, to fund operations and for working capital purposes.
Craig-Hallum Capital Group LLC acted as the exclusive selling agent for this offering.
The Securities and Exchange Commission has declared a registration statement relating to these securities effective. This press release is not an offer to sell or the solicitation of an offer to buy, including in states requiring registration or qualification of offers, solicitations or sales of securities.
Forward-Looking Statement Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words “aim,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions, which indicate future events and trends, identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the effect of government regulation, including when and if we receive approval for marketing products in the United States; the impact of international currency fluctuations on our cash flows and operating results; the impact of technological innovation and competition; acceptance of our products by physicians and patients, our historical reliance on a single product for most of our current sales; our ability to commercialize our recently licensed product lines; our intellectual property and the ability to prevent competitors from infringing our rights; the ability to receive third party reimbursement for our products; the results of clinical trials; our continued losses and the possible need to raise additional capital in the future; our ability to manage our international operations; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; future changes in applicable accounting rules; and volatility in our stock price. Uroplasty, Inc. undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
FOR FURTHER INFORMATION: visit Uroplasty’s web page at http://www.uroplasty.com or contact Mr. Kaysen.
UROPLASTY, INC. David B. Kaysen, President / CEO 5420 Feltl Road Minnetonka, Minnesota 55343 Tel: 952.426.6140 Fax: 952.426.6199 E-mail: dave.kaysen@uroplasty.com
Uroplasty, Inc.
CONTACT: David B. Kaysen, President-CEO of Uroplasty, Inc.,+1-952-426-6140, fax, +1-952-426-6199, dave.kaysen@uroplasty.com
Web site: http://www.uroplasty.com/
