Inari Medical Announces Closing of Underwriters’ Over-Allotment Option in Connection with Offering of Common Stock
March 21 2022 - 4:27PM
Inari Medical, Inc. (NASDAQ: NARI) (“Inari”), a medical device
company with a mission to treat and transform the lives of patients
suffering from venous and other diseases, announced today that it
has completed the sale of an additional 300,000 shares of its
common stock, pursuant to the exercise in full of the
over-allotment option granted to the underwriters in connection
with Inari’s recently completed underwritten public offering of
2,000,000 shares of common stock, at the public offering price of
$81.00 per share, less underwriting discounts and commissions.
After giving effect to the sale of these additional shares, a total
of 2,300,000 shares of common stock were sold in the offering, for
aggregate gross proceeds of approximately $186.3 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses payable by Inari.
BofA Securities and Morgan Stanley acted as joint lead
bookrunning managers for the offering. Wells Fargo Securities,
Canaccord Genuity and BTIG acted as co-managers.
The securities described above were offered pursuant to an
effective shelf registration statement that was filed with the U.S.
Securities and Exchange Commission (the “SEC”) on December 23,
2021. A final prospectus supplement and accompanying prospectus
related to the public offering were filed with the SEC and are
available on the SEC’s website located at www.sec.gov. Copies of
the final prospectus supplement and the accompanying prospectus may
also be obtained from BofA Securities, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte, NC 28255-0001, Attn:
Prospectus Department, or via email:
dg.prospectus_requests@bofa.com; and from Morgan Stanley & Co.
LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention:
Prospectus Department, or by email at
prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Inari Medical, Inc.Inari Medical, Inc. is
a medical device company with a mission to treat and transform the
lives of patients suffering from venous and other diseases. Inari
has developed two minimally-invasive, novel catheter-based
mechanical thrombectomy devices that are designed to remove large
clots from large vessels and eliminate the need for thrombolytic
drugs. The company purpose-built its products for the specific
characteristics of the venous system and the treatment of the two
distinct manifestations of venous thromboembolism, or VTE: deep
vein thrombosis and pulmonary embolism. The ClotTriever system is
510(k)-cleared by the FDA and CE Mark approved for the treatment of
deep vein thrombosis. The FlowTriever system is 510(k)-cleared by
the FDA and CE Mark approved for the treatment of pulmonary
embolism and clot in transit in the right atrium.
Forward Looking StatementsStatements in this
press release may contain “forward-looking statements” that are
subject to substantial risks and uncertainties. Forward-looking
statements contained in this press release may be identified by the
use of words such as “may,” “will,” “should,” “expect,” “plan,”
“anticipate,” “could,” “intend,” “target,” “project,”
“contemplate,” “believe,” “estimate,” “predict,” “potential” or
“continue” or the negative of these terms or other similar
expressions. Any forward-looking statements are based on Inari’s
current expectations, forecasts, and assumptions and are subject to
a number of risks and uncertainties that could cause actual
outcomes and results to differ materially and adversely from those
set forth in or implied by such forward-looking statements. For a
discussion of other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
entitled "Risk Factors" in Inari’s most recent Annual Report on
Form 10-K, its other reports filed with the SEC, as well as in the
final prospectus supplement related to the public offering.
Forward-looking statements contained in this announcement are based
on information available to Inari as of the date hereof and are
made only as of the date of this release. Inari undertakes no
obligation to update such information except as required under
applicable law. These forward-looking statements should not be
relied upon as representing Inari’s views as of any date subsequent
to the date of this press release. In light of the foregoing,
investors are urged not to rely on any forward-looking statement in
reaching any conclusion or making any investment decision about any
securities of Inari.
Investor Contact:ICR WestwickeCaroline
CornerPhone +1-415-202-5678 caroline.corner@westwicke.com
Inari Medical (NASDAQ:NARI)
Historical Stock Chart
From Apr 2024 to May 2024
Inari Medical (NASDAQ:NARI)
Historical Stock Chart
From May 2023 to May 2024