Business
Treace Medical Concepts, Inc. Announces Proposed 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 that it has commenced an underwritten public offering of $100.0 million of shares of its common stock. All of the shares of the common stock are being offered by Treace and there are no selling stockholders in the proposed offering. In addition, Treace intends to grant the underwriters a 30 day option to purchase up to an additional $15.0 million of shares of its common stock. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering. Treace intends to use the net proceeds from the proposed 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 proposed offering. Stifel and Truist Securities are acting as book-running managers for the proposed offering. BTIG is acting as sole manager for the proposed 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 preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC's website at http://www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]...