PLYMOUTH, Minn., April 3 /PRNewswire-FirstCall/ -- ev3 Inc. (Nasdaq:
EVVV), a global medical device company focused on catheter-based
technologies for the endovascular treatment of vascular diseases and
disorders, today announced the filing of a registration statement on Form
S-3 relating to a secondary offering of $175 million of its common stock.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050615/CGEV3LOGO )
Under this registration statement, ev3 is offering $50 million of
common stock and two stockholders, Warburg Pincus and The Vertical Group,
are offering $125 million of common stock. It is contemplated that Warburg
Pincus will grant the underwriters a 30-day option to purchase up to an
additional $26.25 million of common stock to cover over-allotments, if any.
ev3 intends to use the net proceeds from the common stock it is selling for
working capital and general corporate purposes. ev3 will not receive any of
the net proceeds from the sale of common stock by the selling shareholders.
Immediately after the offering, Warburg Pincus and The Vertical Group will
remain significant shareholders of ev3.
The underwriters of the offering will be Banc of America Securities
LLC, Piper Jaffray & Co. and J.P. Morgan Securities Inc. acting as joint
book- running managers, with Bear, Stearns & Co. Inc. and Thomas Weisel
Partners LLC acting as co-managers.
The offering will be made only by means of the written prospectus
included in the registration statement. A copy of the prospectus related to
the offering, when available, may be obtained by contacting either: Banc of
America Securities LLC, Capital Markets (Prospectus Fulfillment) by e-mail
to dg.prospectus_distribution@bofasecurities.com or by mail to Banc of
America Securities LLC, Capital Markets Operations, 100 West 33rd Street,
3rd Floor, New York, NY 10001; Piper Jaffray & Co., 800 Nicollet Mall,
Suite 800, Minneapolis, MN 55402; or J. P. Morgan Securities Inc.,
Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time that the registration statement becomes
effective. This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be any sale
of securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification of the securities under
the securities laws of that state.
About ev3 Inc.
ev3 is a global medical device company focused on catheter-based
technologies for the endovascular treatment of vascular diseases and
disorders. For more information, please visit http://www.ev3.net .
Statements contained in this press release that are not historical
information are forward-looking statements as defined within the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
are subject to risks and uncertainties that could cause actual results to
differ materially from those projected or implied. Such potential risks and
uncertainties relate, but are not limited to, in no particular order:
product demand and market acceptance, the impact of competitive products
and pricing, and success of clinical testing. More detailed information on
these and additional factors which could affect ev3 Inc.'s operating and
financial results are described in the company's filings with the
Securities and Exchange Commission, including its most recent annual report
on Form 10-K. ev3 Inc. urges all interested parties to read this report to
gain a better understanding of the many business and other risks that the
company faces. Additionally, ev3 Inc. undertakes no obligation to publicly
release the results of any revision to these forward-looking statements,
which may be made to reflect events or circumstances occurring after the
date hereof or to reflect the occurrence of unanticipated events.
ev3 and the ev3 logo are trademarks of ev3 Inc., registered in the U.S.
and other countries.
SOURCE ev3 Inc.
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Related links:
http://www.ev3.net
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20050615/CGEV3LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Patrick Spangler, CFO, of ev3 Inc.,
+1-763-398-7000, or pspangler@ev3.net , or Media Relations, Laura
Nobles, of Nobles Communications, +1-310-795-0497, or
laura@noblescommunications.com , or Investor Relations, Marian
Briggs, of Padilla Speer Beardsley, +1-612-455-1742, or
mbriggs@psbpr.com
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