Navigation Links
Inverness Medical Innovations Announces Proposed Public Offering of Common Stock
Date:11/8/2007

WALTHAM, Mass., Nov. 8 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. (Amex: IMA), announced today that it is offering to sell, subject to market and other conditions, 7,000,000 shares of its common stock pursuant to an effective shelf registration statement in an underwritten public offering. Certain selling stockholders of the Company are also offering to sell up to 165,698 shares of common stock in the offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,074,854 shares of common stock to cover over-allotments, if any. The Company will not receive any proceeds from the sale of the shares by the selling stockholders.

Inverness intends to use the net proceeds from the offering for working capital and other general corporate purposes, including the financing of potential acquisitions or other investments, if and when suitable opportunities arise, and for capital expenditures. Inverness also may use a portion of the net proceeds to fund its pending acquisition of Panbio Ltd.

UBS Investment Bank, Jefferies & Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering. Leerink Swann LLC and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. A copy of the preliminary prospectus supplement and accompanying prospectus related to this offering may be obtained by calling the Prospectus Department at UBS Investment Bank, 299 Park Avenue, New York, NY 10171, toll- free at 888-827-7275; Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY 10022 by phone at (212) 284-2342 or by fax request at (212) 284-2208; or Merrill Lynch & Co., 4 World Financial Center, 250 Vesey Street, Ground Floor, New York, New York 10080 by phone at 212-449-1000.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including statements with respect to the proposed public offering. Forward-looking statements include statements regarding the intent, belief or current expectations of Inverness Medical Innovations, Inc. and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. There can be no assurance that the proposed public offering will be completed, or, if completed, as to the number of shares sold in the offering or the price at which such shares are sold. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that actual results may differ materially from those contemplated by such forward-looking statements. Many of these factors are beyond the Company's ability to control or predict. Actual results may differ materially due to numerous factors, including without limitation market conditions generally and also specifically relating to the Company's shares of common stock, the ability of the Company to successfully develop and commercialize products, the potential market acceptance of the Company's current and future products, the efficacy and safety of the Company's products, the content and timing of submissions to and decisions by regulatory authorities both in the United States and abroad, the ability to manufacture sufficient quantities of product for development and commercialization activities, and the effect of pending and future legal proceedings, including the cost thereof, on the Company's financial performance and product offerings and the risks and uncertainties described in the Company's periodic reports filed with the Securities and Exchange Commission under the federal securities laws, including the Company's Annual Report on Form 10-K for the year ended December 31, 2006, and its Quarterly Reports on Form 10-Q for the periods ended March 31, 2007, June 30, 2007 and September 30, 2007.


'/>"/>
SOURCE Inverness Medical Innovations
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Inverness Medical Innovations Agrees to Acquire Panbio Ltd.
2. Inverness - Chemogen Establish Exclusive License for TB Antibodies
3. AEterna Zentaris completes management team with the appointment of Chief Medical Officer
4. VisEn Medical Files Action to Invalidate New Caliper Life Sciences Patent
5. China Medical Technologies to Participate in the Morgan Stanleys 2007 China Medical Corporate Day
6. Pathway Medical Technologies Adds Joe Rafferty as VP, Sales, and Moves To Larger Facility to Accommodate Rapid Growth
7. BioMS Medical announces its intention to renew a normal course issuer bid
8. Dr. Amit Dhawan Promoted to Medical Director for The Mattson Jack Group
9. ATS Medical Expands Open Pivot Heart Valve Offerings
10. AGA Medical Corporation Receives FDA and CE Mark Approvals for the AMPLATZER Vascular Plug II
11. Globus Medical Announces Record 2nd Quarter 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2017)... ... September 22, 2017 , ... The Academy ... Colorado October 28 and 29, 2017, to promote AMA’s programs, member services, and ... in different hobbies, including but not limited to model aviation and other RC ...
(Date:9/21/2017)... ... September 21, 2017 , ... Dr. Greg Leyer, Chief Scientific ... on September 27th. His presentation is at 12:10pm in the Probiotics Resource Center, Mandalay ... at SupplySide West and discuss how probiotics have shown impressive data in areas outside ...
(Date:9/21/2017)... UK (PRWEB) , ... September 21, 2017 , ... ... a QuintilesIMS company, who enable the world’s most progressive pharma and biotech organizations ... clinical trials at top pharma and biotech events in Q4. , DrugDev will ...
(Date:9/21/2017)... ... September 21, 2017 , ... Lajollacooks4u welcomed the San ... The organization, a worldwide society of professional women with high achievement in the fields ... annual dinner. , Twelve members began with an olive oil tasting to ...
Breaking Biology Technology:
(Date:8/15/2017)...   ivWatch LLC , a medical device company focused on ... receipt of its ISO 13485 Certification, the global standard for medical ... Standardization (ISO®). ... Continuous Monitoring device for the early detection of IV infiltrations. ... "This is an important milestone for ivWatch, as ...
(Date:5/23/2017)... 2017  Hunova, the first robotic gym for the rehabilitation and functional ... in Genoa, Italy . The first 30 robots will ... USA . The technology was developed and patented at ... IIT spin-off Movendo Technology thanks to a 10 million euro investment from ... click: ...
(Date:4/19/2017)... 19, 2017 The global military ... is marked by the presence of several large global ... by five major players - 3M Cogent, NEC Corporation, ... for nearly 61% of the global military biometric market ... the global military biometrics market boast global presence, which ...
Breaking Biology News(10 mins):