Northstar Neuroscience, Inc. Announces Initial Public Offering
Friday May 5, 6:00 am ET
SEATTLE--(BUSINESS WIRE)--May 5, 2006--Northstar Neuroscience, Inc. (Nasdaq:NSTR - News) today announced the pricing of its initial public offering of 7,100,000 shares of its common stock at a price to the public of $15.00 per share. Shares of Northstar's common stock will be traded on The Nasdaq National Market under the symbol "NSTR." Northstar has granted the underwriters a 30-day option to purchase up to 1,065,000 additional shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments. Citigroup Global Markets Inc. and Cowen & Co., LLC are the joint book-running managers of the offering. First Albany Capital Inc. and Leerink Swann & Co., Inc. are co-managers.
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, where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A copy of the final prospectus relating to this offering may be obtained by contacting Citigroup Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (Tel: 718-765-6732; Fax: 718-765-6734) or Cowen & Co., LLC, c/o ADP Financial Services, 1155 Long Island Ave., Edgewood, NY 11717.
About Northstar Neuroscience
Northstar Neuroscience is a medical device company focused on developing and commercializing neurostimulation therapies for a broad range of neurological diseases and disorders. Northstar's proprietary technology is designed to deliver targeted electrical stimulation to the outermost layer of the brain, called the cortex, in a process referred to as cortical stimulation. Our initial investigational product, the Northstar Stroke Recovery System, is designed to enhance recovery of hand and arm motor function in patients who have suffered a stroke. We are also studying therapeutic applications for stroke-related aphasia and tinnitus. |
