SALT LAKE CITY, Nov. 21, 2014 (GLOBE NEWSWIRE) -- Amedica Corporation (Nasdaq:AMDA), a biomaterial company that has developed silicon nitride ceramics as a material platform to manufacture and commercialize orthopedic implants, announced today that it has priced a firm commitment underwritten public offering of 11,441,646 units at a price to the public of $1.14 per unit for gross proceeds of approximately $13.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Amedica. Each unit consists of one share of Amedica common stock and one warrant to purchase one share of common stock. The warrants have an exercise price of $1.48 per share, may be exercised on a cashless basis and will expire five years from the date of issuance. In addition, Amedica has granted the underwriters a 45-day option to purchase up to 1,716,246 additional shares of common stock, and/or 1,716,246 additional warrants, or any combination thereof, solely to cover over-allotments, if any. The offering is expected to close on or about November 26, 2014, subject to customary closing conditions.
Dawson James Securities, Inc. is acting as sole book-running manager for the offering. When available, copies of the final prospectus for the offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, One North Federal Highway, 5th Floor, Boca Raton, FL 33432, e-mail: email@example.com or toll free at 866.928.0928
The securities described above are being offered by Amedica pursuant to a registration statement on Form S-1 (File No. 333-199753) that was declared effective by the Securities and Exchange Commission on November 20, 2014. This 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 Amedica Corporation
Amedica is a company focused on the development and application of medical-grade silicon nitride ceramics. Amedica markets spinal fusion products and is developing a new generation of orthopaedic bearings for hip and knee arthroplasty. Amedica operates an ISO 13485 certified manufacturing facility and its spine products are FDA cleared, CE marked, and currently marketed in the U.S. and select markets in Europe and South America.
This press release contains forward-looking statements about Amedica Corporation, including statements relating to the approximate gross proceeds and anticipated closing of the offering. Such statements are based on assumptions and subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including those described in "Risk Factors" of the final prospectus related to the offering, to be filed with the Securities and Exchange Commission. Amedica undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
CONTACT: Mike Houston Director of Investor Relations 801-839-3534 firstname.lastname@example.org