Vapotherm Announces Pricing of Public Offering of Common Stock
May 06 2020 - 10:50PM
Business Wire
Vapotherm, Inc. (NYSE: VAPO) (“Vapotherm”), a global medical
technology company focused on the development and commercialization
of its proprietary Hi-VNI® Technology products that are used to
treat patients of all ages suffering from respiratory distress,
announced today the pricing of an underwritten public offering of
3,350,000 shares of its common stock at a price to the public of
$26.00 per share. In addition, Vapotherm has granted the
underwriters a 30-day option to purchase up to an additional
502,500 shares of its common stock at the public offering price
less underwriting discounts and commissions. All of the shares are
being offered by Vapotherm. The offering is expected to close on
May 11, 2020, subject to customary closing conditions.
Vapotherm intends to use the net proceeds from this offering to
hire additional sales and marketing personnel and expand marketing
programs both in the United States and internationally, to make
investments in its production capabilities, to fund product
development and research and development activities, and for
working capital and other general corporate purposes.
BofA Securities and William Blair are acting as joint
book-running managers for the offering. Canaccord Genuity is acting
as lead manager and BTIG is acting as co-manager.
A shelf registration statement on Form S-3 relating to the
securities being sold in this offering was declared effective by
the Securities and Exchange Commission (the “SEC”) on December 30,
2019. Before you invest, you should read the prospectus in the
registration statement and related prospectus supplement for more
complete information about the Company and this offering. An
electronic copy of the preliminary prospectus supplement and
accompanying prospectus relating to the offering are available on
the SEC website at www.sec.gov. Copies of the final prospectus
supplement and accompanying prospectus relating to the offering may
be obtained, when available, by visiting the SEC’s website, or from
BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or
via email at dg.prospectus_requests@baml.com, or from William Blair
& Company, L.L.C., Attention: Prospectus Department, 150 North
Riverside Plaza, Chicago, IL 60606; via telephone at (800) 621-0687
or via email at prospectus@williamblair.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 Vapotherm
Vapotherm, Inc. is a publicly traded developer and manufacturer
of advanced respiratory technology based in Exeter, New Hampshire,
USA. The Company develops innovative, comfortable, non-invasive
technologies for respiratory support of patients with chronic or
acute breathing disorders. Over 2.2 million patients have been
treated with Vapotherm Hi-VNI Technology. Hi-VNI Technology is
mask-free noninvasive ventilatory support for spontaneously
breathing patients and is a front-line tool for relieving
respiratory distress—including hypercapnia, hypoxemia, and dyspnea.
It allows for the fast, safe treatment of undifferentiated
respiratory distress with one tool. Hi-VNI Technology’s mask-free
interface delivers optimally conditioned breathing gases, making it
comfortable for patients and reducing the risks associated with
mask therapies. While being treated, patients can talk, eat, drink
and take oral medication.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements,
including statements about the terms of the offering. In some
cases, you can identify forward-looking statements by terms such as
“expect,” “guide” or “typically” or the negative of these terms or
other similar expressions, although not all forward-looking
statements contain these words. Each forward-looking statement is
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied in such
statement. Applicable risks and uncertainties include, but are not
limited to, risks and uncertainties associated with the
consummation of the proposed offering and general economic
conditions and the other risks and uncertainties included under the
heading “Risk Factors” in Vapotherm’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2019, as filed with the SEC
on March 4, 2020, and in Vapotherm’s Quarterly Report on Form 10-Q
for the quarter ended March 30, 2020, as filed with the SEC on May
5, 2020, or under the heading “Risk Factors” included in the
preliminary prospectus related to the proposed public offering
filed with the SEC and in any subsequent filings with the SEC. The
forward-looking statements contained in this press release reflect
Vapotherm’s views as of the date hereof, and Vapotherm does not
assume and specifically disclaims any obligation to update any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200506006153/en/
Investor Relations: Mark Klausner or Mike Vallie,
Westwicke, an ICR Company, ir@vtherm.com, +1-(603)-658-0011
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