COLORADO SPRINGS, Colo., April 25, 2013 (GLOBE NEWSWIRE) -- The Spectranetics Corporation (Nasdaq:SPNC), today announced the pricing of a previously announced underwritten registered public offering of 4,750,000 shares of its common stock at a public offering price of $18.00 per share. All of the shares are being sold by Spectranetics. The offering is expected to close on May 1, 2013, subject to customary closing conditions. Spectranetics has granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of common stock to cover over-allotments, if any.
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. are serving as joint book-running managers for this offering. Canaccord Genuity Inc. and Stifel, Nicolaus & Company, Incorporated are serving 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.