Merit Medical Announces Full Exercise Of Option To Purchase Additional Common Stock

Merit Medical Systems (NASDAQ:MMSI) announced that the underwriters of its previously announced public offering of common stock have exercised their option to purchase an additional 675,000 shares.
As quoted in the press release:

The total number of shares being sold in the public offering to 5,175,000 and the total expected net proceeds to $136.5 million (after deducting underwriting discounts and estimated offering expenses payable by Merit).  The offering is expected to close on or about March 28, 2017, subject to customary closing conditions.

Merit expects to use the net proceeds from the offering to repay debt under its existing credit facility.

BofA Merrill Lynch and Piper Jaffray are acting as joint book-running managers and representatives of the underwriters for the offering.  Wells Fargo Securities is also acting as a joint book-running manager. Canaccord Genuity, Raymond James, and SunTrust Robinson Humphrey are acting as co-managers.
Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, free of charge on the Securities and Exchange Commission’s website at www.sec.gov or by sending a request to (a) BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department (or by email at dg.prospectus_requests@baml.com) or (b) Piper Jaffray, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department (or by e-mail at prospectus@pjc.com or telephone at (800) 747-3924.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities discussed herein will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and the offering will be made only by means of a prospectus supplement and accompanying prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).

ABOUT MERIT
Founded in 1987, Merit Medical Systems, Inc. is engaged in the development, manufacture and distribution of proprietary disposable medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology and endoscopy. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 280 individuals.  Merit employs approximately 4,500 people worldwide with facilities in South Jordan, Utah; Pearland, Texas; Richmond, Virginia; Malvern, Pennsylvania; Rockland, Massachusetts; San Jose, California; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Tijuana, Mexico; Joinville, Brazil; Markham, Ontario, Canada; Tokyo, Japan; Singapore; and Melbourne, Australia.

Click here to read the full press release.