NEWS FROM AFFILIATES
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CryoCor, Inc. Announces Pricing of Initial Public Offering
SAN DIEGO, July 14 /PRNewswire-FirstCall/ -- CryoCor, Inc., announced today the pricing of its initial public offering of 3,709,090 shares of its common stock at a price to the public of $11.00 per share. All of the shares are being offered by CryoCor. In addition, CryoCor has granted to the underwriters a 30-day option to purchase up to an additional 556,363 shares to cover over-allotments, if any. CryoCor's common stock will be listed on the Nasdaq National Market under the symbol "CRYO".
WR Hambrecht + Co led the offering, which was made through WR Hambrecht + Co's OpenIPO(R) auction-based process. First Albany Capital and Roth Capital Partners served as co-managers for the offering. A copy of the prospectus relating to these securities may be obtained by going to WR Hambrecht + Co's Web site, http://www.wrhambrecht.com, by calling 800-673-6476, or by writing to WR Hambrecht + Co, P.O. Box 677, Berwyn, PA 19312.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 13, 2005. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CryoCor
CryoCor is a medical technology company that has developed and manufactures a disposable catheter system based on its proprietary cryoablation technology for the minimally invasive treatment of cardiac arrhythmias. The company's product, the CryoCor Cardiac Cryoablation System, is designed to treat cardiac arrhythmias through the use of cryoenergy, extreme cold, to destroy targeted cardiac tissue. The System has been approved in Europe for the treatment of atrial fibrillation and atrial flutter, the two most common and difficult to treat arrhythmias, since 2002.
In the United States, CryoCor is conducting two pivotal trials to evaluate the safety and efficacy of the CryoCor Cardiac Cryoablation System for the treatment of atrial fibrillation and atrial flutter.
Forward-Looking Statements CryoCor, Inc. cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. This inclusion of forward-looking statements should not be regarded as a representation by CryoCor, Inc. that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the company's business including, without limitation, CryoCor's ability to close the public offering and, if it is able to close the offering, the level of its share price, which may decline, and other statements about the efficacy of the CryoCor Cardiac Cryoablation System and CryoCor's expectations about its clinical trials. All forward-looking statements are qualified in their entirety by this cautionary statement and the company undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.
Gregory J. Tibbitts
Vice President, Finance and CFO
(858) 909-2200
gtibbitts@cryocor.com
Investor Relations/Media Contact:
Cheryl Monblatt Allen
(858) 909-2252
callen@cryocor.com
SOURCE CryoCor, Inc.
Web site: http://www.cryocor.com
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CONTACT: Gregory J.
Tibbitts, Vice President, Finance and CFO, |
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