IRVINE, Calif.--(BUSINESS WIRE)--Oct. 25, 2018--
Endologix, Inc. (Nasdaq: ELGX) (“Endologix” or the “Company”), developer
and marketer of innovative treatments for aortic disorders, announced
today the pricing of a registered underwritten public offering of its
common stock for net proceeds of $20.0 million, before deducting
underwriting discounts and commissions and estimated offering expenses
payable by Endologix. All of the shares sold in the offering were sold
by Endologix. The offering is expected to close on October 29, 2018,
subject to customary closing conditions. In addition, Endologix has
granted the underwriter a 30-day option to purchase up to an additional
$3.0 million of shares of its common stock.
BTIG, LLC is acting as sole book-running manager for the offering.
Endologix intends to use the net proceeds from this offering to redeem
all of its $18.3 million 2.25% Convertible Senior Notes due 2018 and to
pay related fees, costs, expenses and other related payments, and the
remaining proceeds, if any, for working capital and general corporate
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was filed with
the Securities and Exchange Commission (the “SEC”) and became effective
on August 3, 2018. Before you invest, you should read the prospectus in
the registration statement and related preliminary prospectus supplement
that Endologix will file with the SEC for more complete information
about Endologix and this offering. An electronic copy of the prospectus
supplement and accompanying prospectus relating to the offering will be
available on the website of the SEC at www.sec.gov.
Copies of the prospectus supplement, when available, and the
accompanying prospectus relating to the offering may be obtained by
contacting BTIG, LLC, at 825 Third Avenue, 6th Floor, New York, NY,
10022, or by telephone at (212) 593-7555 or by e-mail at email@example.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
Endologix, Inc. develops and manufactures minimally invasive treatments
for aortic disorders. The Company’s focus is endovascular stent grafts
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. The overall patient mortality rate for ruptured AAA is
approximately 80%, making it a leading cause of death in the United
States. For more information, visit www.endologix.com.
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995 and
other federal securities laws. Any statements contained in this press
release that are not statements of historical fact, including but not
limited to statements regarding the proposed offering of common stock
and the intended use of proceeds of the common stock offering, are
forward-looking statements. Words such as “believes,” “anticipates,”
“plans,” “expects,” “will,” “intends,” “potential,” “possible” and
similar expressions are intended to identify forward-looking statements.
These forward-looking statements include our expectations regarding the
proposed offering and the use of proceeds from such offering and are
based on information available to us as of the date they were made.
Forward-looking statements involve risks, uncertainties and other
factors related to our business and the general economic environment,
many of which are beyond our control. These risks, uncertainties and
other factors could cause our actual results to differ materially and
adversely from those projected in forward-looking statements. Although
we believe that the forward-looking statements contained herein are
reasonable, we can give no assurance that our expectations are correct.
All forward-looking statements are expressly qualified in their entirety
by this cautionary statement. For a detailed description of our risks
and uncertainties, you are encouraged to review the Company’s Annual
Report on Form 10-K for the year ended December 31, 2017 and the other
documents that the Company files with the SEC. The Company does not
undertake any obligation to publicly update its forward-looking
statements based on events, conditions or circumstances after the date
hereof, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181025005608/en/
Source: Endologix, Inc.
Mahboob, CFO, (949) 595-7200