Printer Friendly

2,000,000 SHARES OF CYBERONICS, INC.COMMON STOCK OFFERED AT $12 PER SHARE

 NEW YORK, Feb. 11 /PRNewswire/ -- Morgan Stanley & Co. Incorporated and Kidder, Peabody & Co. Incorporated, as co-managers of the underwriting group, announced the initial public offering today of 2,000,000 shares of common stock of Cyberonics, Inc. (NASDAQ: CYBX) at a price of $12 per share. All 2,000,000 shares were offered by the company.
 Proceeds from the sale of the shares will be used primarily for research and development efforts (including product and process development activities and further clinical trials and related regulatory activities), expansion of sales and marketing activities, expansion of manufacturing capabilities, and for working capital and general corporate purposes. Cyberonics, Inc., headquartered in Webster, Texas, designs, develops and brings to market medical devices which provide a novel therapy, vagus nerve stimulation, for the treatment of epilepsy and which may provide treatment for other debilitating neurological disorders. The basic premise of Cyberonics' vagus nerve stimulation therapy is that electrical stimulation of the vagus nerve decreases the brain's sensitivity to the conditions or stimuli that can trigger epileptic seizures and other neurological disorders. These securities are offered for sale solely pursuant to the Prospectus, a copy of which may be obtained from Morgan Stanley &Co. Incorporated, 1251 Avenue of the Americas, New York, NY 10020 or from Kidder, Peabody & Co. Incorporated, 10 Hanover Square, New York, NY 10005.
 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 in which such offer,solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.
 -0- 2/11/93
 /CONTACT: Allen Hill of Cyberonics, Inc., 713-332-1375; or Jeanne Donovan Andrews of Morgan Stanley & Co. Incorporated, 212-703-4058/
 (CYBX)


CO: Cyberonics, Inc. ST: Texas IN: MTC SU: OFR

LR -- NY034 -- 5632 02/11/93 11:03 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 11, 1993
Words:314
Previous Article:MAKER OF AMERICA'S NO. 1 CAR AND NATION'S TOP BANKCARD ISSUER ANNOUNCE NEW FORD CITIBANK VISA AND MASTERCARD
Next Article:BILLY RAY CYRUS' 'THESE BOOTS ARE MADE FOR WALKING' VIDEO GETS ONE TIME ONLY U.S. SHOWING ON CMT
Topics:


Related Articles
ENDOVASCULAR TECHNOLOGIES, INC. MAKES INITIAL PUBLIC OFFERING OF COMMON STOCK
ST. JUDE MEDICAL ANNOUNCES INVESTMENT IN CYBERONICS, INC. & COMPANIES ENTER MERGER AGREEMENT
STERILE RECOVERIES, INC. ANNOUNCES INITIAL PUBLIC OFFERING
CYBERONICS SHAREHOLDERS APPROVE MERGER WITH ST. JUDE MEDICAL
Cyberonics, Inc. Completes Private Equity Financing
Bionx Implants, Inc. Announces First Quarter Results
Cyberonics, Inc. Reports Fourth Quarter and Fiscal 1997 Annual Results
SteriGenics International, Inc. Announces Initial Public Offering of its Common Stock
Cyberonics, Inc. Announces Public Offering of Common Stock
/FIRST AND FINAL ADD -- DATH030 -- Cyberonics Earnings/

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters