ArthroCare Corp. files registration statement for initial public offering.SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 15, 1995--ArthroCare Corp. (the "company", proposed Nasdaq NMS See NetWare Management System. :ARTC ARTC Arthrocare Corp (stock symbol) ARTC Australian Rail Track Corporation ARTC Air Route Traffic Control ARTC Association de la Recherche Theatrale au Canada ARTC Andean Root and Tuber Crops ) announced today that yesterday it filed a registration statement with the Securities and Exchange Commission for an initial public offering of 2,000,000 shares of common stock. The offering price is expected to be between $11 and $13 per share. All of the shares are being sold by ArthroCare Corp. The offering will be managed by Robertson, Stephens & Co., L.P., and Volpe, Welty & Co. 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 will be used for increasing manufacturing capacity, expanding sales and marketing efforts, funding for research and development, and for working capital and other general corporate purposes. ArthroCare Corp. designs, develops, manufactures and markets arthroscopic surgical equipment for use in orthopedics. The company's product is designed to replace the multiple surgical tools used in arthroscopic procedures with one multi-purpose electrosurgery electrosurgery /elec·tro·sur·gery/ (-ser´jer-e) surgery performed by electrical methods; the active electrode may be a needle, bulb, or disk.electrosur´gical e·lec·tro·sur·ger·y n. system that ablates (removes) soft tissue while simultaneously achieving hemostasis hemostasis /he·mo·sta·sis/ (he?mo-sta´sis) (he-mos´tah-sis) 1. the arrest of bleeding by the physiological properties of vasoconstriction and coagulation or by surgical means. 2. (sealing small bleeding vessels). This allows the surgeon to remove damaged tissue while reducing the need for the frequent exchange of instruments that is common to arthroscopic procedures. The company received clearance of its 510(k) pre-market notification from the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. in March 1995 to market its arthroscopic system in the United States for use in arthroscopic surgery Arthroscopic Surgery Definition Arthroscopic surgery is a procedure to visualize, diagnose, and treat joint problems. The name is derived from the Greek words arthron, which means joint, and skopein, which means to look at. of the knee, shoulder, elbow and ankle. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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 preliminary prospectus relating to the offering may be obtained from Robertson, Stephens & Co., L.P., 555 California Street, Suite 2600, San Francisco, Calif. 94104, 415/781-9700; or Volpe, Welty & Co., One Maritime Plaza One Maritime Plaza is an office tower located in San Francisco's Financial District near the Embarcadero Center towers on Clay and Front Streets. The building, completed in 1964, stands 121 m (398 feet) and has 27 floors of office space. , 11th Floor, San Francisco, Calif. 94111, 415/956-8120. CONTACT: ArthroCare Corp., Sunnyvale Larry Tannenbaum, 408/736-0224 |
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