MINNEAPOLIS, Nov. 20 /PRNewswire-FirstCall/ -- Uroplasty, Inc. (AMEX:UPI) announced today the pricing of its public offering of 1,466,400 shares of its common stock. The offering was priced at $3.50 per share. Uroplasty has granted the underwriters a 30-day option to purchase up to an additional 219,960 shares of common stock at the offering price to cover over-allotments. The proceeds from the sale of shares will be used primarily to expand its sales and marketing organization in the United States, to conduct clinical studies to support its marketing efforts and for working capital purposes.
Craig-Hallum Capital Group LLC is serving as bookrunning lead manager for the offering with Noble International Investments, Inc. acting as co-manager. A copy of the final prospectus related to this offering may be obtained by contacting Craig-Hallum Capital Group, Prospectus Department, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402 (Tel: 1-800-752-1476).
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these 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. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our primary focus is the commercialization of our Urgent PC(R) system, which we believe is the only FDA-approved non-surgical neurostimulation therapy for the treatment of overactive bladder symptoms (OAB). We also offer Macroplastique(R) Implants, a bulking agent for the treatment of urinary incontinence.
For Further Information:
Uroplasty, Inc. EVC Group
David Kaysen, President and CEO, or Douglas Sherk (Investors)
Medi Jiwani, Vice President, CFO, 415.896.6820
and Treasurer, Julie Huang (Investors)
952.426.6140 646.443.6963
Jennifer Saunders (Media)
646.201.5431
DATASOURCE: Uroplasty, Inc.
CONTACT: David Kaysen, President and CEO, or Medi Jiwani, Vice President, CFO, and Treasurer, both of Uroplasty, Inc., +1-952-426-6140; or Investors, Douglas Sherk, +1-415-896-6820, or Julie Huang, +1-646-443-6963, or Media, Jennifer Saunders, +1-646-201-5431, all of EVC Group, for Uroplasty, Inc.
Web site: http://www.uroplasty.com/
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