The net proceeds of the offering are expected to be used to (i) expand commercial activities, (ii) fund milestone payments, (iii) support new product development, (iv) broaden reimbursement coverage for Tactile Medical’s patient population, (v) fund potential acquisitions and (vi) provide working capital and for other general corporate purposes, which may include general debt reduction.
The shares are being offered by
This press release does not constitute an offer to sell or the solicitation of an offer to buy, 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.
Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease by helping them live better and care for themselves at home.
Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “continue,” “confident,” “outlook,” “guidance,” “project,” “goals,” “look forward,” “poised,” “designed,” “plan,” “return,” “focused,” “prospects” or “remain” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of Tactile Medical’s control that can make such statements untrue, including, but not limited to, Tactile Medical’s plans to consummate its proposed public offering, its expectations with respect to granting the underwriter a 30-day option to purchase additional shares and its intended use of net proceeds therefrom; the impacts of the COVID-19 pandemic on Tactile Medical’s business, financial condition and results of operations, and Tactile Medical’s inability to mitigate such impacts; the adequacy of Tactile Medical’s liquidity to pursue its business objectives; Tactile Medical’s ability to obtain reimbursement from third party payers for its products; loss or retirement of key executives, including prior to identifying a successor; adverse economic conditions or intense competition; loss of a key supplier; entry of new competitors and products; adverse federal, state and local government regulation; technological obsolescence of Tactile Medical’s products; technical problems with Tactile Medical’s research and products; Tactile Medical’s ability to expand its business through strategic acquisitions; Tactile Medical’s ability to integrate acquisitions and related businesses; wage and component price inflation; the effects of current and future U.S. and foreign trade policy and tariff actions; or the inability to carry out research, development and commercialization plans. In addition, other factors that could cause actual results to differ materially are discussed in Tactile Medical’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov.
Mike Piccinino, CFA ICR Westwicke 443-213-0500 [email protected]
Source: Tactile Systems Technology, Inc.