Over-allotment option brings total offering amount to over $232 million
IRVINE, Calif., Aug. 13 /PRNewswire-FirstCall/ -- Masimo Corporation
(Nasdaq: MASI), the inventor of Pulse CO-Oximetry and Read-Through Motion and
Low Perfusion pulse oximetry, today announced that it has closed its
previously announced initial public offering of 11,916,626 shares and that the
underwriters of the offering have exercised their over-allotment option and
purchased 1,787,494 additional shares of common stock at the public offering
price of $17 per share. Including the over-allotment, the Company and selling
stockholders sold 13,704,120 shares in the offering for gross proceeds of
$232,970,040. Excluding shares offered by selling shareholders, net proceeds
to the company amounted to approximately $48 million after deducting the
underwriting discounts and commission and the estimated offering expenses.
Piper Jaffray & Co., Deutsche Bank Securities Inc. and Citigroup Global
Markets Inc. acted as joint book running managers for the offering. Cowen and
Company, LLC and Thomas Weisel Partners LLC, acted as co-managers of the
offering. A copy of the final prospectus relating to the offering can be
obtained from the Piper Jaffray & Co. Prospectus Department, phone
(612) 303-6000.
The registration statement relating to the initial public offering of
common shares has been declared effective by the Securities and Exchange
Commission. This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of such common
shares in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
About Masimo
Masimo develops innovative monitoring technologies that significantly
improve patient care-helping solve "unsolvable" problems. In 1995, the company
debuted Read-Through Motion and Low Perfusion pulse oximetry, known as SET and
with it substantially reduced false alarms and increased pulse oximetry's
ability to detect life-threatening events. More than 100 independent clinical
and laboratory studies have confirmed that Masimo SET technology allows
clinicians to accurately monitor blood oxygen saturation in critical care
situations. Our Masimo SET platform has significantly addressed many of the
previous technology limitations, has substantially contributed to improved
patient outcomes and has been referred to by several industry sources as the
gold standard in pulse oximetry. In 2005, Masimo introduced Masimo Rainbow SET
Pulse CO-Oximetry, which, for the first time, noninvasively monitors the level
of carbon monoxide and methemoglobin in the blood, allowing early detection
and treatment of potentially life-threatening conditions. Founded in 1989,
Masimo has the mission of "Improving Patient Outcomes and Reducing Cost of
Care by Taking Noninvasive Monitoring to New Sites and Applications."
Additional information about Masimo and its products may be found at
http://www.masimo.com.
Forward-Looking Statements
This press release includes forward-looking statements. All statements
other than statements of historical facts included in this press release that
address activities, events or developments that we expect, believe or
anticipate will or may occur in the future are forward-looking statements
including, in particular, the statements about our plans, objectives,
strategies and prospects regarding, among other things, the financial
condition, results of operations and business of ours and our subsidiaries.
These forward-looking statements are based on current expectations about
future events affecting us and are subject to uncertainties and factors
relating to our operations and business environment, all of which are
difficult to predict and many of which are beyond our control. Certain
factors mentioned in this press release, including the risks outlined under
"Risk Factors" in our Prospectus dated August 7, 2007, will be important in
determining future results. Although we believe that the expectations
reflected in our forward-looking statements are reasonable, we do not know
whether our expectations will prove correct. They can be affected by
inaccurate assumptions we might make or by known or unknown risks and
uncertainties. All forward-looking statements included in this press release
are expressly qualified in their entirety by the foregoing cautionary
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. We do not
undertake any obligation to update, amend or clarify these forward-looking
statements or the risk factors contained in our Prospectus dated August 7,
2007, whether as a result of new information, future events or otherwise,
except as may be required under the federal securities laws.
SOURCE Masimo Corporation
CONTACT: investors, Mark de Raad, Executive Vice President and Chief
Financial Officer, +1-949-297-7041, mderaad@masimo.com] or media Tom McCall,
V.P. Marketing Communications, +1-949-297-7075, tmccall@masimo.com, both of
Masimo Corporation or Nick Laudico of The Ruth Group, +1-646-536-7030,
nlaudico@theruthgroup.com, for Masimo Corporation
Web site: http://www.masimo.com