Endologix Announces Pricing of Public Offering of Common Stock
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IRVINE, Calif., July 30 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq:
ELGX) today announced that it has entered into an agreement to sell 3,900,000
shares of its common stock in an underwritten public offering at a price to
the public of $4.10 per share. The gross proceeds to Endologix, before
offering expenses, from the sale of shares are expected to be $15,990,000.
The closing of the offering is expected to take place on August 4, 2009.
Piper Jaffray & Co. will be the sole manager for the offering.
The offering is being made pursuant to a shelf registration statement filed
with the Securities and Exchange Commission on May 8, 2009 that became
effective on June 1, 2009. A prospectus supplement relating to the offering
will be filed with the Securities and Exchange Commission.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any of the securities, nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such state. When available, copies of the prospectus supplement relating to
the offering may be obtained upon request to Piper Jaffray & Co., at 800
Nicollet Mall, Suite 800, Minneapolis, MN 55402, or by telephone at (800)
747-3924.
About Endologix, Inc.
Endologix, Inc. develops and manufactures minimally invasive treatments for
aortic disorders. The Company's flagship product is the Powerlink(R) System,
which is an endovascular stent graft for the treatment of abdominal aortic
aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest
artery in the body, resulting in a balloon-like enlargement. Once AAA
develops, it continues to enlarge and, if left untreated, becomes increasingly
susceptible to rupture. Additional information can be found on Endologix's Web
site at www.endologix.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding the proposed
offering by Endologix. Endologix intends such forward-looking statements to
be covered by the safe harbor provisions for forward-looking statements
contained in Section 21E of the Exchange Act and the Private Securities
Litigation Reform Act of 1995. These statements are based on the current
assumptions of the Company's management as of the date of this press release
and are subject to risks, uncertainties, changes in circumstances, assumptions
and other factors that may cause actual results to differ materially from
those indicated by forward-looking statements. Factors that could cause
actual results to differ materially from those indicated by such
forward-looking statements are described in greater detail under the heading
"Risk Factors" contained in the Company's periodic SEC filings. Given these
uncertainties, you should not place undue reliance on the forward-looking
statements in this press release. The Company undertakes no obligation to
revise or update information herein to reflect events or circumstances in the
future, even if new information becomes available.
COMPANY CONTACT:
Endologix, Inc.
John McDermott, CEO
(949) 595-7200
www.endologix.com
INVESTOR CONTACTS:
The Ruth Group
Nick Laudico (646) 536-7030
Zack Kubow (646) 536-7020
SOURCE Endologix, Inc.
COMPANY CONTACT: Endologix, Inc., John McDermott, CEO, +1-949-595-7200;
INVESTOR CONTACTS: Nick Laudico, +1-646-536-7030, or Zack Kubow,
+1-646-536-7020, both of The Ruth Group
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