MINNEAPOLIS, July 21 Uroplasty, Inc. (Nasdaq: UPI) announced today that it intends, subject to market and other conditions, to offer shares of its common stock in an underwritten public offering. Uroplasty also intends to grant the underwriters of the offering an option to purchase additional shares of common stock to cover over-allotments, if any.
Uroplasty intends to use the net proceeds from the sale of the common stock to fund the commercialization of its Urgent PC system, to fund additional clinical trials to expand the applications for its products and for general corporate purposes, including working capital.
Oppenheimer & Co. Inc. is the sole book-running manager for the offering and JMP Securities LLC is acting as co-manager for the offering.
The shares will be issued pursuant to a shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC) and was declared effective on June 24, 2010. A prospectus supplement relating to the offering will be filed in accordance with the rules and regulations of the SEC. When available, copies of the prospectus supplement and accompanying prospectus may be obtained from the SEC's website at www.sec.gov, or by sending a request to Oppenheimer & Co., Inc., Attention: Prospectus Department, 300 Madison Avenue, 5th Floor, New York, NY, 10017, Telephone number: (212) 667-8563, Email: EquityProspectus@opco.com. Before you invest, you should read the prospectus supplement and accompanying prospectus, the registration statement, and the other documents that Uroplasty has filed with the SEC for more complete information about Uroplasty and this offering. Investors may obtain these documents for free by visiting the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may only be made by means of a prospectus supplement and the accompanying prospectus or by a free writing prospectus in accordance with the rules and regulations of the SEC.
About Uroplasty, Inc.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our focus is the continued commercialization of our Urgent PC system, which we believe is the only FDA-approved minimally invasive nerve stimulation device designed for office-based treatment of urinary urgency, urinary frequency and urge incontinence - symptoms often associated with overactive bladder.
We also offer Macroplastique Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.uroplasty.com.
This press release contains forward-looking statements, which reflect our best estimates regarding future events and financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our anticipated results. We discuss in detail the factors that may affect the achievement of our forward-looking statements in our Annual Report on Form 10-K filed with the SEC. Further, we cannot assure you that third-party payors will provide or continue to provide coverage and reimbursement for our products, or reimburse the providers an amount sufficient to cover their costs and expenses. We further cannot assure that reimbursement or other issues will not further impact our future fiscal results.
For Further Information: Uroplasty, Inc. EVC Group ----------------------------------- --------- David Kaysen, President and CEO, or Doug Sherk (Investors) Medi Jiwani, Vice President, CFO, and Treasurer 415.896.6820 952.426.6140 Chris Gale (Media) 646.201.5431
SOURCE Uroplasty, Inc.