Sientra Commences Public Offering of Common Stock
09 February 2021 - 8:01AM
Sientra, Inc. (NASDAQ: SIEN) (“Sientra” or the “Company”), a
medical aesthetics company uniquely focused on plastic surgeons,
today announced that it has commenced an underwritten public
follow-on offering of its common stock to be sold by the Company.
In addition, the Company intends to grant the underwriters a 30-day
option to purchase additional shares. The offering is subject to
market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Sientra intends to use the net proceeds from this offering 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 is acting as book-running manager 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 preliminary prospectus
supplement relating to the offering has been filed with the SEC.
Copies of the preliminary prospectus supplement 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.
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.
About Sientra
Headquartered in Santa Barbara, California, Sientra is a medical
aesthetics company uniquely focused on plastic surgeons. The
Company offers a suite of products designed to make a difference in
patients' lives by enhancing their body image, growing their
self-esteem, and restoring their confidence. Sientra has developed
a broad portfolio of products with technologically differentiated
characteristics, supported by independent laboratory testing and
strong clinical trial outcomes. The Company’s Breast Products
Segment includes its Sientra round and shaped breast implants, the
first fifth generation breast implants approved by the FDA for sale
in the United States, its Allox2® breast tissue expander with
patented dual-port and integral drain technology, and BIOCORNEUM®
scar gel. The Company’s miraDry Segment, comprised of its miraDry®
system, is approved for sale in over 56 international markets and
is the only non-surgical, FDA-cleared device indicated for the
permanent reduction of underarm sweat and hair and may also reduce
odor.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, based on management’s current assumptions and expectations
of future events and trends, which affect or may affect the
Company’s business, strategy, operations or financial performance,
and actual results may differ materially from those expressed or
implied in such statements due to numerous risks and uncertainties.
Forward-looking statements are made only as of the date of this
release. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’
‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’
‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of
those terms, and similar expressions that convey uncertainty of
future events or outcomes are intended to identify estimates,
projections and other forward-looking
statements. Forward-looking statements may include statements
about the Company’s expectations regarding its capital raising
efforts, including the commencement of the public offering, the
underwriters’ 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, the scope and duration of the
COVID-19 pandemic, the Company’s ability to recapture delayed
procedures resulting from the COVID-19 pandemic, the positive
reaction from plastic surgeons and their patients to Sientra’s
Breast Products, the ability to meet consumer demand, the growth
of the sale of bioTips in its miraDry segment, the
Company’s ability to manage its operating expenses and cash
balance, 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, 2019, 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.
Contact:
Investor Relations(805) 679-8845
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