Business Services Industry
Restore Medical Prices $32 Million Initial Public Offering; Lists on NASDAQ under Symbol ``REST''
Business Wire, May 17, 2006
ST. PAUL, Minn. -- Restore Medical, Inc. today announced the initial public offering of 4,000,000 shares of common stock at a price of $8.00 per share. Restore Medical has granted the underwriters an option to purchase up to an additional 600,000 shares of common stock at the initial public offering price to cover over-allotments, if any. The common stock will trade on The NASDAQ Stock Market under the symbol "REST."
Deutsche Bank Securities was the sole book-running manager for the offering, with RBC Capital Markets as co-lead manager and First Albany Capital as co-manager.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the common stock of Restore Medical, 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. Copies of the final prospectus may be obtained by contacting Deutsche Bank Prospectus Department, 1251 Avenue of the Americas, 25th Floor, New York, NY 10020.
About Restore Medical and the Pillar Procedure
Restore Medical develops, manufactures and markets innovative medical devices to treat sleep disordered breathing. The Company's proprietary Pillar(R) Palatal Implant System is the first FDA-cleared implantable treatment for snoring and mild-to-moderate obstructive sleep apnea (OSA), and involves the insertion of three tiny woven implants into the muscle of the soft palate (the Pillar Procedure). The Pillar implants, together with the body's natural fibrotic response to the Pillar Procedure, stiffen and add structural support to the soft palate, which effectively reduces or eliminates the palatal tissue flutter that causes snoring and/or collapse that can obstruct the upper airway and cause OSA. The Pillar Procedure is a one-time minimally invasive procedure that can be performed in a physician's office with the use of topical and local anesthetics. The Pillar Palatal Implant System is sold throughout the U.S. and in various countries in Asia Pacific, Europe and the Middle East.
For more information about Restore Medical, the Pillar Procedure and physicians who offer the Pillar Procedure in the U.S., visit the company's website at www.restoremedical.com or www.pillarprocedure.com.
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