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Treace Medical Concepts, Inc. Announces Pricing of $100.0 Million Public Offering of Common Stock
PONTE VEDRA, Fla., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace”) (NasdaqGS: TMCI), a medical technology company driving a
About this update from Treace Medical Concepts, Inc.
[{"type":"text","content":"PONTE VEDRA, Fla., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions) through its Lapiplasty® 3D Bunion Correction™ procedure, today announced the pricing of an underwritten public offering of 4,761,905 shares of its common stock at a public offering price of $21.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Treace and there are no selling stockholders participating in the offering. In addition, Treace has granted the underwriters a 30-day option to purchase up to an additional 714,285 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Treace, are expected to be approximately $100.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close February 10, 2023, subject to the satisfaction of customary closing conditions. Treace intends to use the net proceeds from this offering for general corporate purposes, including research and development and sales and marketing activities, general and administrative matters and capital expenditures. J.P. Morgan and Morgan Stanley are acting as lead book-running managers for the offering. Stifel and Truist Securities are acting as book-running managers for the offering. BTIG is acting as sole manager for the offering. The securities described above are being offered pursuant to a shelf registration statement (including a prospectus) filed with the U.S. Securities and Exchange Commission (“SEC”) on February 7, 2023, which automatically became effective upon filing. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY ...