Tornier Announces Secondary Offering of Ordinary Shares
AMSTERDAM, Netherlands, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Tornier N.V.
(Nasdaq:TRNX), a global medical device company focused on providing surgical
solutions to orthopaedic extremity specialists, announced today the
commencement of a proposed underwritten public offering of 5,125,000 ordinary
shares by TMG Holdings Coöperatief U.A., an affiliate of Warburg Pincus LLC.
Tornier will not sell any ordinary shares in this offering or receive any
proceeds from this offering.
BofA Merrill Lynch will act as the sole underwriter for the offering, and
proposes to offer the ordinary shares at prevailing market prices or otherwise
from time to time through the NASDAQ Global Select Market, the
over-the-counter market, negotiated transactions or otherwise.
A shelf registration statement relating to the sale of these securities has
been filed with the Securities and Exchange Commission and was declared
effective on April 19, 2013.A preliminary prospectus supplement relating to
the offering has been filed with the Securities and Exchange
Commission.Copies of the preliminary prospectus supplement and accompanying
prospectus may be obtained by contacting BofA Merrill Lynch by mail at 222
Broadway, New York, NY 10038, Attn: Prospectus Department, or by e-mail at
This press release shall not constitute an offer to sell, nor the solicitation
of an offer to buy, the Company's ordinary shares or any other securities, nor
shall there be any sale of securities mentioned in this press release 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.
Tornier is a global medical device company focused on providing solutions to
surgeons who treat musculoskeletal injuries and disorders of the shoulder,
elbow, wrist, hand, ankle and foot. The Company's broad offering of over 95
product lines includes joint replacement, trauma, sports medicine, and
biologic products to treat the extremities, as well as joint replacement
products for the hip and knee in certain international markets. Since its
founding approximately 70 years ago, Tornier's "Specialists Serving
Specialists" philosophy has fostered a tradition of innovation, intense focus
on surgeon education, and commitment to advancement of orthopaedic technology
stemming from its close collaboration with orthopaedic surgeons and thought
leaders throughout the world. For more information regarding Tornier, visit
Statements contained in this release that relate to future, not past, events
are forward-looking statements under the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are based on current expectations of
future events and often can be identified by words such as "expect," "should,"
"project," "anticipate," "intend," "will," "may," "believe," "could," "would,"
"continue," "future," "prospects," other words of similar meaning or the use
of future dates. Examples of forward-looking statements in this release
include Tornier's expectations regarding the offering, including the actual
size or terms of the offering, and whether or when the offering may be
completed.Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Uncertainties and risks may cause
Tornier's actual results to be materially different than those expressed in or
implied by Tornier's forward-looking statements. For Tornier, such
uncertainties and risks include, among others, Tornier's future operating
results and financial performance; Tornier's reliance on its independent sales
agencies and distributors to sell its products and the effect on its business
and operating results of agency and distributor changes, transitions to direct
selling models in certain geographies and the recent transition of its U.S.
sales channel towards focusing separately on upper and lower extremity
products; risks associated with Tornier'sacquisition of OrthoHelix and
subsequent integration activities; fluctuations in foreign currency exchange
rates; the effect of global economic conditions; the European sovereign debt
crisis and austerity measures; risks associated with Tornier's international
operations and expansion; the timing of regulatory approvals and introduction
of new products; physician acceptance, endorsement, and use of new products;
the effect of regulatory actions, changes in and adoption of reimbursement
rates and product recalls; competitor activities; Tornier's leverage and
access to credit under its credit agreement; and changes in tax and other
legislation. More detailed information on these and other factors that could
affect Tornier's actual results are described in Tornier's filings with the
U.S. Securities and Exchange Commission, including its most recent annual
report on Form 10-K. Tornier undertakes no obligation to update its
CONTACT: Tornier N.V.
Chief Financial Officer
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