iCAD Announces Proposed Public Offering Of Common Stock
NASHUA, N.H. — June
12, 2019 – iCAD, Inc. (“iCAD”) (NASDAQ: ICAD), a global medical technology
leader providing innovative cancer detection and therapy solutions, today
announced that it has commenced an underwritten registered public offering of
its common stock. In addition, iCAD intends to grant the underwriter a 30-day
option to purchase additional shares, in a number equal to up to 15% of the
number of shares of common stock sold in the offering, to cover
over-allotments, if any. All shares of common stock to be sold in the proposed
offering will be offered by iCAD. The proposed offering is subject to market
and other conditions, as well as customary closing conditions, and there can be
no assurance as to whether or when the proposed offering may be completed, or
as to the actual size or terms of the offering.
iCAD intends to use the net proceeds of the proposed
offering for working capital and other general corporate purposes. Craig-Hallum
Capital Group is acting as sole managing underwriter for the proposed offering.
A registration statement on Form S-3 (File No. 333-228514)
relating to the shares of common stock of iCAD to be sold in the proposed
offering was declared effective by the Securities and Exchange Commission (the
“SEC”) on December 4, 2018. A preliminary prospectus supplement and
accompanying prospectus relating to and describing the terms of the proposed
offering have been filed with the SEC and may be obtained by visiting EDGAR on
the SEC’s website at www.sec.gov or by
contacting Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350,
Minneapolis, MN 55402, Attention Equity Capital Markets, by telephone at
612-334-6300, or by email at prospectus@chlm.com. The final terms of the proposed offering will
be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell, or
the solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About iCAD, Inc.:
Headquartered in Nashua, NH, iCAD is a global medical technology
leader providing innovative cancer detection and therapy solutions.
Forward-Looking Statements
This press
release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Although the forward-looking
statements in this release reflect the good faith judgment of management,
forward-looking statements are inherently subject to known and unknown risks
and uncertainties that may cause actual results to be materially different from
those discussed in these forward- looking statements. Readers are urged to
carefully review and consider the various disclosures made by us in the reports
filed with the Securities and Exchange Commission, including the risk factors
that attempt to advise interested parties of the risks that may affect our
business, financial condition, results of operation and cash flows. If one or
more of these risks or uncertainties materialize, or if the underlying assumptions
prove incorrect, our actual results may vary materially from those expected or
projected. Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release. We
assume no obligation to update any forward-looking statements in order to
reflect any event or circumstance that may arise after the date of this
release.
Contact:
Investor Relations:
LifeSci Advisors, on behalf of iCAD, Inc.
iCAD, Inc.
603.882.5200