Sientra Announces Pricing of Upsized Public Offering of Common Stock
June 04 2019 - 6:30PM
Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a
medical aesthetics company, today announced the upsizing and
pricing of its previously announced underwritten public offering.
The Company will sell 17,391,305 shares of its common stock at a
public offering price of $5.75 per share. The gross proceeds to
Sientra, before deducting the underwriting discounts and
commissions and estimated offering expenses, are expected to be
approximately $100.0 million. The offering is expected to close on
or about June 7, 2019, subject to customary closing
conditions. In addition, the Company has granted the
underwriters a 30-day option to purchase up to 2,608,695 additional
shares at the public offering price, less underwriting discounts
and commissions.
Sientra intends to use the net proceeds from this offering to
implement sales and marketing initiatives, expand its U.S. and
global commercial organizations, fund its research and development
efforts, and for general corporate purposes, including general and
administrative expenses, capital expenditures and general working
capital purposes. Sientra may also use a portion of the net
proceeds to acquire or invest in complementary businesses, products
and technologies, although it has no current commitments or
agreements with respect to any acquisitions as of the date
hereof.
Stifel, William Blair and SVB Leerink are acting as joint
book-running managers for the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on May 22, 2019. A prospectus supplement relating
to the offering will be filed with the SEC. Copies of the
prospectus supplement, when available, and accompanying prospectus
may be obtained from the offices of Stifel, Nicolaus & Company,
Incorporated at Attention: Syndicate, One Montgomery Street, Suite
3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or
by email at syndprospectus@stifel.com; William Blair & Company,
L.L.C., 150 North Riverside Plaza, Chicago, IL 60606, Attention:
Prospectus Department; or SVB Leerink LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110, by
telephone at (800) 808-7525, ext. 6132, or by emailing
syndicate@svbleerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information
about Sientra, Inc. that is intended to be covered by the safe
harbor for “forward-looking statements” provided by the Private
Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements are statements that are not historical
facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,”
“may,” “anticipate(s)” and similar expressions are intended to
identify forward-looking statements. These statements include, but
are not limited to, statements about the Company’s expectations
regarding its capital raising efforts, including the closing of the
public offering, the underwriters’ exercise of their option to
purchase additional shares and the Company’s intended use of
proceeds. All such statements are subject to certain risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of the Company, which could cause actual results
to differ materially from those expressed in, or implied or
projected by, the forward-looking information and statements. These
risks and uncertainties include, but are not limited to, risks
related to: the Company’s history of operating losses, the
Company’s ability to successfully commercialize its products,
inherent risk and uncertainty in the protection of intellectual
property rights, ability to maintain gross margins, regulatory
uncertainties regarding approval or clearance for the Company’s
products, as well as other risks and uncertainties described under
the “Risk Factors” contained in the Company’s periodic and interim
SEC reports, including but not limited to, the preliminary
prospectus supplement relating to this offering, its Annual Report
on Form 10-K for the fiscal year ended December 31, 2018, and its
Current Reports on Form 8-K filed from time to time with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof,
and the Company does not undertake any obligation to revise and
disseminate forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence
of or non-occurrence of any events.
Investor Contact:
Neil Bhalodkar
(805) 679-8845
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