Organogenesis Holdings Inc. Announces Proposed Public Offering of Class A Common Stock

Rhea-AI Summary

Organogenesis Holdings Inc. (Nasdaq: ORGO) announced a public offering of 17,500,000 shares of its Class A common stock, with an option for underwriters to purchase an additional 2,625,000 shares. The offering, managed by Morgan Stanley and SVB Leerink, is subject to market conditions. A registration statement has been filed with the SEC but is not yet effective, preventing any sale or buyer acceptance until it is. The press release includes forward-looking statements highlighting potential risks related to market conditions and completion of the offering.

Positive

• Offering of 17,500,000 shares could strengthen capital position.
• Potential additional sale of 2,625,000 shares may boost funds for growth.

Negative

• Dilution risk for existing shareholders due to the new offering.
• Market conditions may affect successful completion of the offering.

CANTON, Mass., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced that it is offering to sell 17,500,000 shares of its Class A common stock in an underwritten public offering. In addition, Organogenesis Holdings intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of its Class A common stock at the public offering price, less the underwriting discounts and commissions. Morgan Stanley & Co. LLC and SVB Leerink LLC are acting as joint book-running managers of the offering and BTIG, LLC and Oppenheimer & Co. Inc. are acting as co-managers for the offering. 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.

A registration statement on Form S-1 relating to the shares of Class A common stock being offered has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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 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 jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is being made only by means of a prospectus included in the registration statement, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at prospectus@morganstanley.com, or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132, or by email at syndicate@svbleerink.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Organogenesis Holdings’ proposed offering of Class A common stock, that involve a number of risks and uncertainties. Statements that are not historical facts are based on Organogenesis Holdings’ current expectations, beliefs and assumptions regarding the market for its Class A common stock. There can be no assurance regarding the completion, timing or size of the proposed offering. Important factors that could cause actual outcomes to differ materially from those indicated by these forward-looking statements include risks and uncertainties related to market conditions, the satisfaction of customary closing conditions related to the proposed public offering and others described in Organogenesis Holdings’ registration statement on Form S-1. Organogenesis Holdings cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Organogenesis Holdings undertakes no obligations to update or revise these statements, except as may be required by law.

About Organogenesis Holdings Inc.
Organogenesis Holdings Inc. is a leading regenerative medicine company offering a portfolio of bioactive and acellular biomaterials products in advanced wound care and surgical biologics, including orthopedics and spine. Organogenesis’s comprehensive portfolio is designed to treat a variety of patients with repair and regenerative needs. 

FAQ

What is the stock offering size for ORGO?

Organogenesis is offering 17,500,000 shares of its Class A common stock, with an option for underwriters to purchase an additional 2,625,000 shares.

Who are the underwriters for ORGO's stock offering?

Morgan Stanley and SVB Leerink are the joint book-running managers for the offering, with BTIG and Oppenheimer acting as co-managers.

What are the risks associated with ORGO's stock offering?

The offering is subject to market conditions, and there is a risk of dilution for existing shareholders.

When can shares from ORGO's offering be sold?

The shares cannot be sold until the SEC registration statement becomes effective.