PROCEPT BioRobotics Corporation Announces Common Stock Offering
PROCEPT BioRobotics Corporation (NASDAQ: PRCT), a leading player in the surgical robotics landscape, is at the forefront of enhancing patient care with its innovative solutions in urology. Recently, the company revealed dynamic new developments regarding their public stock offering, which aims to raise significant funds to continue advancing their transformative technologies in medical robotics.
Details of the Offering
The company has come forth with pricing details about an underwritten public offering encompassing 1,923,076 shares of its common stock, established at a public offering price of $91.00 per share. Through this offering, expected gross proceeds amount to roughly $175 million, before considering the costs associated with underwriting discounts and commissions. In a further development, a selling stockholder has also granted underwriters a 30-day option to acquire an additional 288,461 shares at the same offering price.
Closing Expectations
The anticipated closing of this public offering is slated for approximately the end of this month, contingent upon customary closing conditions being met. This initiative highlights PROCEPT BioRobotics’ commitment to keeping pace with the evolving needs of the medical industry while enhancing its operational capabilities.
Who’s Managing the Offering?
Highly respected financial institutions are overseeing this public offering. BofA Securities, Piper Sandler, and Morgan Stanley are spearheading the endeavor as joint book-running managers, bringing their robust expertise to ensure a smooth offering process.
Regulatory Framework for Securities
The securities will be offered in accordance with an effective shelf registration statement duly filed with the U.S. Securities and Exchange Commission (SEC). This means the offering adheres to legal protocols meant to protect potential investors and maintain a transparent stock market environment.
Finding the Prospectus
Interested parties can find a preliminary prospectus pertaining to the offering on the SEC's official website. This prospectus serves as an essential document for understanding the intricacies of the stock being offered. Furthermore, a final prospectus will be filed to furnish all necessary details needed by potential investors.
About PROCEPT BioRobotics
At the core of the company's innovation are the AQUABEAM® and HYDROS™ Robotic Systems. The HYDROS Robotic Technology stands out as the only AI-powered system specifically designed to deliver Aquablation therapy. This groundbreaking therapy offers safe and effective outcomes for men experiencing lower urinary tract symptoms, irrespective of prostate size or the surgeon's expertise.
The Importance of Aquablation Therapy
Benign Prostatic Hyperplasia (BPH), the most prevalent prostate condition impacting around 40 million men in the United States, is a focal point for PROCEPT BioRobotics. Their Aquablation therapy, grounded in mounting clinical evidence—including over 150 peer-reviewed publications—demonstrates noteworthy improvements in patient outcomes.
Investor Contact Information
If you’re looking to find out more or have inquiries about this offering, you can reach out to Matt Bacso, the VP of Investor Relations and Business Operations, at m.bacso@procept-biorobotics.com.
Frequently Asked Questions
What is the purpose of the stock offering by PROCEPT BioRobotics?
The stock offering aims to raise funds to further enhance the company’s capabilities in surgical robotics for urology.
When is the expected closing date for the offering?
The offering is expected to close at the end of the month, subject to customary closing conditions.
Who are the joint book-running managers for the offering?
BofA Securities, Piper Sandler, and Morgan Stanley are managing the offering.
What innovative technologies does PROCEPT BioRobotics focus on?
They specialize in AI-powered robotic systems like the HYDROS system and Aquablation therapy to address BPH in men.
How can I get more information regarding the offering?
You can refer to the SEC’s website for the prospectus or contact the investor relations team at PROCEPT BioRobotics.
