Advanced Neuromodulation Systems Prices Public Offering of 2,500,000 Shares of Common Stock.Business Editors DALLAS--(BUSINESS WIRE)--May 23, 2002 Advanced Neuromodulation Systems, Inc. (ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) (Nasdaq:ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. ) announced today that it has priced its public offering of 2,500,000 shares of common stock at $31.00 per share. The Company is selling the entire 2,500,000 shares. In addition, ANS has granted the underwriters of the offering an over-allotment option to purchase up to 375,000 additional shares of common stock. U.S. Bancorp Piper Jaffray, CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. and Gerard Klauer Mattison are the managing underwriters. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to the Company from the offering of the 2,500,000 shares will be approximately $72.2 million. ANS intends to use the proceeds from the offering for general corporate purposes, including expanding its worldwide sales and marketing resources, funding product development, pursuing regulatory approvals and strategic acquisitions of products, technologies and businesses. To obtain a copy of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering, you should contact U.S. Bancorp Piper Jaffray, 800 Nicollet Mall, Minneapolis, MN 55404-7020 (612) 303-6220; CIBC World Markets, 417 Fifth Avenue, 2nd Floor, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , New York 10016 (212) 667-7200; or Gerard Klauer Mattison, 529 Fifth Avenue, 2nd Floor, New York City, New York 10017 (212) 885-4100. About Advanced Neuromodulation Systems Advanced Neuromodulation Systems designs, develops, manufactures and markets implantable systems used to manage chronic intractable pain and other disorders of the central nervous system. Additional information is available at www.ANS-medical.com. |
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