Mazor raises $40.8 Million in Public Offering

30 October, 2013

Mazor Robotics has developed the Renaissance™ system, a surgical guidance system that enables surgeons to conduct spine surgeries in an accurate and secure manner

Mazor Robotics has developed the Renaissance™ system, a surgical guidance system that enables surgeons to conduct spine surgeries in a secure manner

MAZORMazor Robotics Ltd. from Caesarea, Israel, announced today the pricing of its public offering of 2,400,000 American Depositary Shares at a price of $17.00 per ADS. The gross proceeds to the Company from the offering are expected to be $40.8 million. The offering is expected to close on November 4, 2013.

Barclays Capital Inc. is acting as sole book-running manager with Ladenburg Thalmann & Co. Inc., JMP Securities LLC and First Analysis Securities Corporation acting as co-managers of the offering.

Mazor Robotics has developed the Renaissance™ system, a surgical guidance system that enables surgeons to conduct spine surgeries in an accurate and secure manner. The systems have been successfully used in the placement of over 35,000 implants in the United States and Europe.

The key elements of the Renaissance System include the robotic RBT Device, a portable, computer-controlled Stewart platform that spatially positions and orients surgical tools, Renaissance Work Station, a mobile workstation that houses proprietary software, and multiple mounting platforms to serve as an interface between the patient and the RBT Device.

The Company expects to report revenue of approximately $14.2 million for the nine months ended September 30, 2013 compared to $9.4 million in the nine months ended September 30, 2012. In the first nine months of 2013, the Company sold a total of 16 Renaissance systems and one system upgrade compared to 12 systems in the first nine months of 2012 and has now a clinical installed base of 56 systems (including its predecessor to Renaissance) globally, of which 30 are in the United States.

 

 

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