SAN DIEGO, Dec. 15 /PRNewswire-FirstCall/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed underwritten public offering of shares of its common stock having a market value of up to $115 million. It is anticipated that the shares will be offered primarily by NuVasive, with the remainder being offered by a selling stockholder.
Banc of America Securities LLC and Lehman Brothers are acting as joint book-running managers, and Thomas Weisel Partners LLC and William Blair & Company are acting as co-managers.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The proposed public offering will be made only by means of a prospectus. When available, copies of the offering prospectus may be obtained from either Banc of America Securities LLC, c/o Prospectus Department, 100 West 33rd Street, New York, NY 10001 (phone (646) 733-4166), or from Lehman Brothers, c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 (phone (631) 254-7106, fax (631) 254-7268).
NuVasive is a medical device company focused on the design, development and marketing of products for the surgical treatment of spine disorders. The Company's product portfolio is focused on applications in the over $2 billion U.S. spine fusion market. The Company's current principal product offering includes a minimally disruptive surgical platform called Maximum Access Surgery, or MAS(TM), as well as classic fusion implants.
MAS combines three categories of current product offerings -- NeuroVision(R), a proprietary software-driven nerve avoidance system; MaXcess(R), a unique split-blade design retraction system; and specialized implants, like SpheRx(R) and CoRoent(TM) -- that collectively minimize soft tissue disruption during spine surgery while allowing maximum visualization and surgical reproducibility. NuVasive's classic fusion portfolio is comprised predominantly of proprietary saline-packaged bone allografts and internal fixation products. NuVasive also has a robust R&D pipeline emphasizing both MAS and motion preservation products such as Total Disc Replacement (TDR) and a nucleus-like cervical disc replacement.
Disclosure Regarding Forward-Looking Statements
NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to: the risk that NuVasive may be unable to successfully integrate new products or technologies into its business; the risk that additional clinical experience may demonstrate that NuVasive's products do not provide the intended safe and reproducible results; risks related to NuVasive's ability to effectively manage the growth of its business; and other risks and uncertainties more fully described in NuVasive's press releases and periodic filings with the Securities and Exchange Commission. NuVasive's public filings with the Securities and Exchange Commission are available at http://www.sec.gov. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
Kevin C. O'Boyle
EVP & Chief Financial Officer
Stephanie Carrington/Nick Laudico
The Ruth Group
SOURCE NuVasive, Inc.
CONTACT: Kevin C. O'Boyle, EVP & Chief Financial Officer of NuVasive, Inc., +1-858-909-1800, firstname.lastname@example.org, or Investors: Stephanie Carrington, +1-646-536-7017, email@example.com, or Nick Laudico, +1-646-536-7030, firstname.lastname@example.org, both of The Ruth Group for NuVasive, Inc.