LeMaitre Vascular Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

LeMaitre Vascular (Nasdaq:LMAT) has begun an underwritten public offering of its common stock, with an option for underwriters to purchase an additional 15% of shares. The proceeds will be used to fully repay borrowings under its senior secured credit facility and for corporate purposes, including working capital and potential acquisitions. Jefferies LLC and Stifel are the joint book-running managers. The offering is subject to market conditions, and details will be available in the SEC filings.

Positive

• Intended use of proceeds includes repaying debt, indicating improved financial stability.
• Potential to fund future acquisitions, suggesting growth opportunities.

Negative

• Market conditions may affect the completion and terms of the offering.
• Dilution of existing shareholders possible if underwriters exercise their option.

BURLINGTON, Mass., July 13, 2021 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT), a provider of peripheral vascular devices, implants and services, today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares to be sold in the offering will be offered by LeMaitre. In addition, LeMaitre intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering, on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

LeMaitre intends to use the net proceeds from the offering to repay in full borrowings outstanding under its senior secured credit facility and for general corporate purposes, including working capital and capital expenditures and payments under its quarterly dividend program. LeMaitre may also use a portion of the net proceeds to fund potential future acquisitions.

Jefferies LLC and Stifel are acting as joint book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on June 1, 2020. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the prospectus and related preliminary prospectus supplement relating to the offering may also be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by telephone at (877) 821-7388; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at 415-364-2720 or by email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or a 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.

About LeMaitre Vascular

LeMaitre is a provider of devices for the treatment of peripheral vascular disease, a condition that affects more than 200 million people worldwide. LeMaitre Vascular develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding LeMaitre, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995, including LeMaitre‘s expected use of the proceeds of the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that could cause LeMaitre’s future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. LeMaitre undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to LeMaitre’s business in general, please refer to LeMaitre’s prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which include LeMaitre’s Annual Report on Form 10-K filed with the SEC on March 12, 2021, LeMaitre’s Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and LeMaitre’s other periodic reports filed with the SEC.

Investor Relations Contacts:
David Roberts          President                                 LeMaitre Vascular, Inc. 781-425-1693 droberts@lemaitre.com		J.J. Pellegrino Chief Financial Officer LeMaitre Vascular, Inc. 781-425-1691 jpellegrino@lemaitre.com

 

FAQ

What is LeMaitre Vascular's public offering about?

LeMaitre Vascular is conducting an underwritten public offering of its common stock, with proceeds aimed at debt repayment and general corporate purposes.

How will LeMaitre Vascular use the proceeds from the offering?

The proceeds will be used to repay borrowings under their credit facility and for corporate purposes, including working capital and acquisitions.

What is the size of the public offering from LeMaitre Vascular?

The exact size is not specified, but the underwriters have a 30-day option to purchase an additional 15% of the shares offered.

Who is managing LeMaitre Vascular's public offering?

Jefferies LLC and Stifel are acting as joint book-running managers for the offering.

What are the risks associated with LeMaitre Vascular's offering?

Risks include market conditions affecting the offering's completion and potential dilution of existing shareholders.