News
Novadaq@ Technologies Inc. ("Novadaq" or the "Company") (TSX:
NDQ)(NASDAQ: NVDQ), a developer of real-time medical imaging systems
for use in the operating room, announced today that it has commenced
an underwritten public offering of its common shares. The offering is
being conducted in the United States pursuant to the Company's
effective shelf registration statement filed with the U.S. Securities
and Exchange Commission (the "SEC") and in Canada pursuant to a final
short form base shelf prospectus filed with the securities regulatory
authorities in each of the provinces of Canada, other than the
Province of Quebec. The number of common shares to be issued and the
price of each common share will be determined at the time of pricing
the offering.
Piper Jaffray & Co. and Stifel Nicolaus Weisel will act as joint
book-running managers for the offering. The Company expects to grant
the underwriters participating in the offering a 30-day option to
purchase up to an additional 15 percent of the number of common shares
sold pursuant to the offering to cover over-allotments, if any. The
offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or as
to the actual size or terms of the offering.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, 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. The offering will be made only
by means of the preliminary supplement and the accompanying short form
base shelf prospectus. Copies of the preliminary supplement and the
accompanying short form base shelf prospectus are available at
www.sedar.com(http://www.sedar.com) and
www.sec.gov(http://www.sec.gov), respectively, and may be obtained
upon request by contacting Piper Jaffray & Co. at 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, or by email
prospectus@pjc.com(mailto:prospectus@pjc.com), or by telephone at
(800) 747-3924.
About Novadaq Technologies Inc.
Novadaq primarily develops, manufactures and markets real-time
fluorescence imaging products that are designed for use by surgeons in
the operating room and other clinical settings where open, minimally
invasive or interventional surgical procedures are performed. The
Company's SPY@ Imaging core technology enables surgeons to visualize
blood flow in vessels, co-joined vessels and micro-vessels, and to
assess the quality of blood perfusion in tissue, without exposing the
patient to radiation. More than 50 peer-reviewed publications
demonstrate that the use of SPY Imaging during complex surgery leads
to fewer post-operative complications and lower hospital costs. The
SPY Imaging System is United States Food and Drug Administration
("FDA") 510(k) cleared for use during a variety of open surgical
applications. The endoscopic version of SPY, which is branded
PINPOINT, combines the capabilities of SPY Imaging with high
definition ("HD") visible light visualization offered by conventional
endoscopes. The majority of Novadaq's current revenues come from
alliances formed with leading companies in relevant markets in which
SPY technology has been demonstrated to improve clinical outcomes in
open, minimally invasive and robotic surgery applications. Novadaq's
first alliance integrates SPY Imaging into the 3-D HD imaging
capabilities of the da Vinci@ Surgical Robotic System offered by
Intuitive Surgical@, Inc. The integrated system received FDA 510(k)
clearance in February 2011. In September 2010, Novadaq entered into an
exclusive North American sales and marketing alliance with LifeCell
Corporation, for SPY in open plastic and reconstructive,
gastrointestinal and head and neck surgeries. In November 30, 2011,
Novadaq signed exclusive, multi-year sales and marketing agreements
with Kinetic Concepts, Inc., for wound care applications and extended
its agreement with LifeCell for the commercialization of the SPY
System into vascular surgery. In addition, the SPY Imaging System for
cardiac applications is marketed directly, whereas the CO2 Heart
Laser for TMR is distributed by MAQUET Cardiovascular. For more
information, please visit the Company's website at
http://www.novadaq.com(http://www.novadaq.com).
Forward Looking Statements
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements, and therefore these statements should not
be read as guarantees of future performance or results. All
forward-looking statements are based on Novadaq's current beliefs as
well as assumptions made by and information currently available to
Novadaq and relate to, among other things, the Company's strategy,
strategic goals, research and development activities, research and
clinical testing outcomes, taxes, capital expenditures, future
operations, future financial position, future revenues/results,
projected costs, prospects and plans and objectives of management.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Novadaq in its public securities filings
available at www.sedar.com(http://www.sedar.com), actual events may
differ materially from current expectations. Novadaq disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Note: LifeCell Corporation is a business unit and trademark of
Kinetic Concepts, Inc. Intuitive Surgical and da Vinci are registered
trademarks of Intuitive Surgical
