UPDATE - Treace Medical Concepts Announces Pricing of Upsized Initial Public Offering
23 April 2021 - 11:55AM
Treace Medical Concepts, Inc. (“Treace”) (Nasdaq: TMCI), a
commercial-stage orthopaedic medical device company driving a
paradigm shift in the surgical treatment of Hallux Valgus (commonly
known as bunions), today announced the pricing of its upsized
initial public offering of an aggregate of 11,250,000 shares of its
common stock, 6,250,000 of which are being sold by Treace and
5,000,000 of which are being sold by certain selling stockholders,
at a public offering price of $17.00 per share. The gross proceeds
from the offering to Treace are expected to be approximately $106.3
million before deducting underwriting discounts and commissions and
other offering expenses payable by Treace. Treace will not receive
any proceeds from the sale of shares by the selling stockholders.
In addition, Treace and the selling stockholders have granted the
underwriters a 30-day option to purchase up to 1,687,500 additional
shares of common stock (up to 703,125 additional shares from Treace
and up to 984,375 additional shares from the selling stockholders)
at the public offering price, less underwriting discounts and
commissions. The shares are expected to begin trading on the Nasdaq
Global Select Market on April 23, 2021 under the ticker symbol
“TMCI.” The offering is expected to close on April 27, 2021,
subject to satisfaction of customary closing conditions.
J.P. Morgan and Morgan Stanley are acting as
joint book-running managers for the offering. SVB Leerink and
Stifel are acting as co-managers for the offering.
Registration statements relating to these
securities have been filed with the Securities and Exchange
Commission and became effective on April 22, 2021. The offering is
being made only by means of a prospectus. A copy of the final
prospectus relating to this offering, when available, may be
obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; or Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or by email at prospectus@morganstanley.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.
Contacts:
Treace Medical ConceptsMark L.
HairChief Financial Officermhair@treace.net(904) 373-5940
Investors:
Gilmartin GroupLynn Lewis or
Vivian CervantesIR@treace.net
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