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Spectranetics Announces Closing Of Public Offering Of Common Stock And Full Exercise Of Underwriters' Over-Allotment Option

Stocks in this article: SPNC

COLORADO SPRINGS, Colo., May 1, 2013 (GLOBE NEWSWIRE) -- The Spectranetics Corporation (Nasdaq:SPNC) today announced the closing of the previously announced public offering of 5,462,500 shares of common stock (which includes 712,500 shares resulting from the underwriters' exercise of their option to purchase additional shares) at a price to the public of $18.00 per share. Spectranetics received net proceeds from this offering of approximately $91.8 million, after deducting underwriters' discounts and commissions and estimated expenses.

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. served as joint book-running managers for this offering. Canaccord Genuity Inc. and Stifel, Nicolaus & Company, Incorporated served 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.

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