SUNNYVALE, Calif., April 08, 2019 (GLOBE NEWSWIRE) -- Silk Road Medical, Inc. (Nasdaq: SILK) (“Silk Road Medical”), a company focused on reducing the risk of stroke and its devastating impact, today announced the closing of its initial public offering of 6,000,000 shares of common stock, and the exercise in full of the underwriters’ option to purchase 900,000 additional shares of common stock from the selling stockholders, at a public offering price of $20 per share. The gross proceeds from the offering were approximately $120 million, before deducting underwriting discounts and commissions and estimated offering expenses. Silk Road Medical did not receive any proceeds from the sale of the shares of common stock by the selling stockholders. The shares commenced trading on The Nasdaq Global Market on April 4, 2019, under the ticker symbol “SILK”.
J.P. Morgan Securities LLC and BofA Merrill Lynch acted as joint book-running managers for the offering. BMO Capital Markets and Stifel acted as co-managers for the offering.
A registration statement relating to the shares being sold in the offering was declared effective by the Securities and Exchange Commission on April 3, 2019. The offering was made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email: firstname.lastname@example.org; or BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email: email@example.com.
This press release shall not constitute an offer to sell or a 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.
About Silk Road Medical
Silk Road Medical, Inc. is a medical device company located in Sunnyvale, California, that is focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR). TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke.
Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements regarding Silk Road Medical’s current expectations. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those described more fully in the section captioned “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Silk Road Medical undertakes no duty to update such information except as required under applicable law.
Lynn Lewis or Carrie Mendivil
Source: Silk Road Medical