Silk Road Medical Announces Pricing of Public Offering

SUNNYVALE, Calif., Oct. 18, 2022 (GLOBE NEWSWIRE) — Silk Road Medical, Inc. (Nasdaq: SILK), an organization centered on decreasing the danger of stroke and its devastating impression, as we speak introduced the pricing of an underwritten public providing of 2,325,582 shares of its widespread inventory at a public providing worth of $43.00 per share, earlier than deducting underwriting reductions and commissions. In addition, Silk Road Medical has granted the underwriters a 30-day choice to buy as much as a further 348,837 shares of widespread inventory on the public providing worth, much less the underwriting reductions and commissions. The gross proceeds from the providing to Silk Road Medical are anticipated to be roughly $100.0 million. The providing is anticipated to shut on October 21, 2022, topic to the satisfaction of customary closing circumstances.

Silk Road Medical intends to make use of the web proceeds from the providing, after deducting underwriting reductions and commissions and estimated providing bills payable by Silk Road Medical, to develop its gross sales pressure and operations, enhance its analysis and growth actions, conduct or sponsor scientific research and trials, lease new amenities, develop internationally, and to offer for working capital and different common company functions. Silk Road Medical might use a portion of the web proceeds to repay debt or purchase or license complementary merchandise, applied sciences, mental property or companies; nevertheless, Silk Road Medical at the moment doesn’t have any agreements or commitments to finish any such transactions and isn’t concerned in negotiations concerning such transactions. 

J.P. Morgan and BofA Securities are appearing as joint book-running managers of the providing. Stifel can be appearing as book-running supervisor, and Wolfe Capital Markets and Advisory is appearing as co-manager.

The public providing is being made pursuant to an automated shelf registration assertion on Form S-3 (File No. 333-238007) that was filed by Silk Road Medical with the U.S. Securities and Exchange Commission (the “SEC”) and have become efficient on May 5, 2020. A preliminary prospectus complement and accompanying prospectus referring to and describing the phrases of the providing have been filed with the SEC and can be found on the SEC’s web site at www.sec.gov. The preliminary prospectus complement and accompanying prospectus could also be obtained by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by e-mail: [email protected]; or BofA Securities, NC1-004-03-43, 200 North College Street, third Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by e-mail: [email protected].

This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase these securities, nor shall there be any sale of these securities in any state or different jurisdiction during which such supply, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or different jurisdiction.

About Silk Road Medical
Silk Road Medical, Inc. (NASDAQ: SILK), is a medical gadget firm positioned in Sunnyvale, California, and Plymouth, Minnesota, that’s centered on decreasing the danger of stroke and its devastating impression. The firm has pioneered a brand new method for the therapy of carotid artery illness known as TransCarotid Artery Revascularization (TCAR). TCAR is a clinically confirmed process combining surgical rules of neuroprotection with minimally invasive endovascular methods to deal with blockages within the carotid artery in danger of inflicting a stroke. For extra info on how Silk Road Medical is delivering brighter affected person outcomes by brighter scientific considering, go to www.silkroadmed.com and join on Twitter, LinkedIn and Facebook.

Forward-Looking Statements
This press launch incorporates forward-looking statements throughout the which means of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements embody statements concerning an providing of Silk Road Medical’s widespread inventory, the timing and dimension of the general public providing and the anticipated use of the web proceeds from the providing. Such statements are primarily based on present assumptions that contain dangers and uncertainties that would trigger precise outcomes and outcomes to vary materially. These dangers and uncertainties, many of that are past our management, embody, amongst others, the dangers described in Silk Road Medical’s preliminary prospectus complement dated October 17, 2022, the accompanying prospectus dated May 5, 2020, and the paperwork included within the prospectus complement and the prospectus by reference. These forward-looking statements communicate solely as of the date hereof and shouldn’t be unduly relied upon. Silk Road Medical disclaims any obligation to replace these forward-looking statements.

Investor Contact:
Lynn Lewis or Marissa Bych
Gilmartin Group
[email protected]

Media:
Michael Fanucchi
Silk Road Medical
[email protected]