SAN DIEGO, Jun 18, 2004 /PRNewswire-FirstCall via COMTEX/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today that the underwriters of the Company's recent initial public offering have exercised their over-allotment option and purchased 382,991 additional shares of common stock at the public offering price of $11.00 per share.
After giving effect to the exercise of the over-allotment option, the Company sold a total of 6,882,991 shares in the underwritten offering. As a result of the exercise of the over-allotment option, the Company will receive additional net proceeds of approximately $3.9 million, which would result in total net proceeds from the initial public offering of approximately $70.4 million.
Banc of America Securities LLC and Lehman Brothers acted as joint book-running managers, and Thomas Weisel Partners LLC and William Blair and Company acted as co-managers.
NuVasive is a medical device company focusing on the design, development and marketing of products for use in minimally disruptive surgical treatments for the spine. NuVasive's Maximum Access Surgery (MAS(TM)) product platform includes the NeuroVision(R) nerve avoidance system, MaXcess(TM) spine access system, and specialized implants. NuVasive also offers classic fusion implant products for use in spine surgery.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release regarding NuVasive, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For example, the timing of the closing of this offering could vary based upon the timing of the satisfaction of the closing conditions contained in the underwriting agreement relating to the offering. Actual results, performance or achievements could differ materially from the Company's current expectations. NuVasive undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE NuVasive, Inc.
Kevin C. O'Boyle of NuVasive, Inc., +1-858-271-7070, firstname.lastname@example.org (NUVA)