COLORADO SPRINGS, Colo., April 23, 2013 (GLOBE NEWSWIRE) -- The Spectranetics Corporation (Nasdaq:SPNC), today announced that it has commenced an underwritten public offering of approximately 4,750,000 shares of common stock. In connection with the common stock offering, the Company expects to grant the underwriters a 30-day option to purchase up to 712,500 additional shares of common stock, solely to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Spectranetics expects to use the net proceeds for general corporate purposes, including working capital. It may use all or a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets. It currently has no present understandings, commitments or agreements to enter into any acquisitions or make any investments.
J.P. Morgan Securities LLC and Piper Jaffray & Co. will serve as joint book-running managers for this offering. Canaccord Genuity Inc. and Stifel, Nicolaus & Company, Incorporated are acting as co-managers of the offering. A shelf registration statement relating to the sale of these securities has been filed with the Securities and Exchange Commission and has become effective. This release does 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 in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The common stock offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting J.P. Morgan Securities LLC at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204, or Piper Jaffray & Co. at 800 Nicollet Mall, Minneapolis, MN 55402, Attention: Prospectus Department or by calling toll-free at (877) 371-5212.