IRadimed Corporation Announces Pricing of Initial Public Offering
WINTER SPRINGS, Fla.--(BUSINESS WIRE)--IRADIMED CORPORATION (NASDAQ:IRMD), the leading provider of non-magnetic intravenous (IV) infusion pump systems that are safe for use during magnetic resonance imaging (MRI) procedures, announced today the pricing of its initial public offering of 2,016,000 shares of its common stock at an initial public offering price of $6.25 per share for a total offering amount of $12.6 million before deducting underwriting discounts and commissions, and estimated offering expenses payable by Iradimed. In addition, the underwriters have been granted a 45-day option to purchase up to an additional 302,400 shares of common stock at the initial public offering price solely to cover over-allotments, if any. The shares are expected to begin trading on The NASDAQ Capital Market on July 16, 2014 under the symbol "IRMD." The closing of the offering is expected to occur on July 21, 2014, subject to customary closing conditions.
Roth Capital Partners is acting as sole book-running manager for the offering and Monarch Capital Group is acting as co-manager.
A registration statement (including the prospectus) relating to these shares has been filed with the Securities and Exchange Commission and was declared effective on July 15, 2014. The offering of these shares is being made only by means of a prospectus forming part of the effective registration statement relating to these shares. Copies of the final prospectus relating to the offering, when available, may be obtained from Roth Capital Partners, 888 San Clemente Drive, Newport Beach, California 92660, Attention: Equity Capital Markets, Phone (800) 678-9147 / Fax (949) 720-7227.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these shares, nor shall there be any sale of these shares 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 IRADIMED CORPORATION
IRADIMED CORPORATION is the leading provider of non-magnetic IV infusion pump systems that are safe for use during MRI procedures. Electromechanical medical devices and pumps contain magnetic and electronic parts which generate radio frequency noise, create interference and are dangerous to operate in the presence of the powerful magnet which drives an MRI. The company’s mRidium (3850/3860+) IV pump systems have been designed with non-ferrous parts, ceramic ultrasonic motors, non-magnetic mobile stand and other special features in order to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. The company’s pump solution provides a seamless approach to providing IV fluids before, during and after an MRI scan, which is important to critically-ill patients who cannot be removed from their vital medications, and children and infants must generally be sedated in order to remain immobile during an MRI scan. For more information please visit www.iradimed.com. mRidium is a trademark of IRADIMED CORPORATION.