FRAMINGHAM, Mass. and SYDNEY, Dec. 9, 2010
/PRNewswire-FirstCall/ — HeartWare International, Inc.
(Nasdaq: HTWR, ASX: HIN) (“HeartWare”) announced today its
intention to offer, subject to market and other conditions, $100
million principal amount of convertible senior notes due 2017 (the
“notes”) pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission (“SEC”) today.
HeartWare also intends to grant the underwriters an option to
purchase up to an additional $15 million principal amount of notes
to cover over-allotments, if any.
Concurrently with the notes offering, Apple Tree Partners I,
L.P., one of HeartWare’s existing stockholders, intends to offer,
subject to market and other conditions, 1,000,000 shares of
HeartWare’s common stock pursuant to an effective shelf
registration statement filed with the SEC today. Apple Tree
Partners I, L.P. will also grant the underwriters an option to
purchase up to 150,000 additional shares to cover over-allotments,
if any. The completion of the common stock offering is not
contingent upon the completion of the notes offering and the notes
offering is not contingent upon the completion of the common stock
HeartWare intends to use the net proceeds from the notes
offering for general corporate and working capital purposes,
including, but not limited to, expansion of its manufacturing
capabilities and/or licensing of or investment in complementary
products, technologies or businesses. HeartWare will not
receive any of the proceeds from the common stock offering.
J.P. Morgan Securities LLC is acting as the sole book-running
manager for both the convertible notes and common stock offerings.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sa