TranS1 to raise $20M through a new public offering
TranS1 Inc. Announces Pricing of Public Offering of Common Stock (press release)
WILMINGTON, N.C., Sept. 21, 2011 (GLOBE NEWSWIRE) — TranS1 Inc. (Nasdaq:TSON) today announced that it has priced its public offering of 6,200,000 shares of its common stock at a price to the public of $3.25 per share. TranS1 has granted the underwriters a 30-day option to purchase up to 930,000 additional shares of common stock to cover over-allotments, if any. The gross proceeds to TranS1 from the sale of shares, before expenses and any over-allotment exercise, are expected to be $20,150,000. The closing of the offering is expected to take place on September 26, 2011. Piper Jaffray & Co. is acting as the sole book-running manager for the offering and Canaccord Genuity is acting as co-manager.
A shelf registration statement relating to the shares of common stock was originally filed with the Securities and Exchange Commission on May 16, 2011, which became effective on August 1, 2011. A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and related prospectus may be obtained, when available, by contacting Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, or by telephone at (800) 747-3924.
This press release shall 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.
About TranS1 Inc.
TranS1 is a medical device company focused on designing, developing and marketing products that implement its proprietary approach to treat degenerative conditions of the spine affecting the lower lumbar region. TranS1 currently markets the AxiaLIF family of products for single and two level lumbar fusion and the Vectre and Avatar posterior fixation systems for lumbar fixation supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and is headquartered in Wilmington, North Carolina. For more information, visit www.trans1.com.