ATLANTA, June 11, 2015 /PRNewswire/ — EndoChoice (NYSE: GI) today announced the closing of its initial public offering of 7,302,500 shares of its common stock at a price to the public of $15.00 per share, which included an additional 702,500 shares sold by the company and 250,000 shares sold by certain selling stockholders pursuant to the exercise in full of the underwriters’ option to purchase additional shares. Total proceeds to EndoChoice from the offering, including proceeds from the option exercise, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $94.9 million.
J.P. Morgan and BofA Merrill Lynch acted as joint book-running managers for the offering. William Blairand Stifel acted as co-managers for the offering.
A registration statement relating to these securities was filed with the Securities and Exchange Commission and has been declared effective. The offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone: +1 (866) 803-9204); or BofA Merrill Lynch, Attention: Prospectus Dept., 222 Broadway, New York, NY 10038, or: dg.prospectus_requests@baml.com.
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 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 EndoChoice
Based in the Atlanta, Georgia area, EndoChoice is a medtech company focused on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists screening, diagnosing and treating a wide range of gastrointestinal conditions, including colon cancer. EndoChoice leverages its direct sales organization to serve more than 2,500 customers in the United States and works with distribution partners in 25 countries. The Company was founded in 2008 and has developed a broad and innovative product portfolio, which includes the Full Spectrum Endoscopy® System (Fuse®).