SI-BONE Announces Pricing of Public Offering of Common Stock

SI-BONE, Inc. (Nasdaq: SIBN) (“SI-BONE”), a Silicon Valley-based medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced the pricing of its public offering of 4,300,000 shares of its common stock at a price to the public of $21.50 per share. Of the shares of common stock being offered, 1,809,947 shares are being offered by selling stockholders and 2,490,053 shares are being offered by SI-BONE.  Gross proceeds to SI-BONE from the offering are expected to be $53.5 million, before deducting underwriting discounts and commissions and estimated offering expenses.  The offering is scheduled to close on January 27, 2020, subject to the satisfaction of customary closing conditions.  In addition, SI-BONE has granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of common stock on the same terms and conditions.

Morgan Stanley and BofA Securities are acting as joint book-running managers.  Canaccord Genuity LLC and JMP Securities LLC are acting as co-managers.

A shelf registration statement relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission on December 26, 2019, and was declared effective on January 2, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering are may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC  28255-0001, Attn: Prospectus Department, or email at [e-mail].

This press release shall 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.

About SI-BONE

SI-BONE is a medical device company that pioneered minimally invasive surgery of the SI joint with the iFuse Implant System. 

SI-BONE and iFuse Implant System are registered trademarks of SI-BONE, Inc. iFuse Implant is a trademark of SI-BONE, Inc.  ©2020 SI-BONE, Inc. All Rights Reserved.  10608.01222020

Forward-Looking Statements

This press release contains forward-looking statements, including statements relating to SI-BONE’s expectations regarding the underwritten public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. SI-BONE cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, completion of the underwritten public offering is subject to the satisfaction of customary closing conditions. Risks and uncertainties relating to SI-BONE and its business can be found in the “Risk Factors” section of SI-BONE’s Form 10-Q for the quarter ended September 30, 2019, filed with the SEC on November 12, 2019, in the preliminary prospectus supplement related to the public offering filed with the SEC on January 21, 2020, and in  the final prospectus supplement related to the public offering to be filed with the SEC on or about January 23, 2020. SI-BONE undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in SI-BONE’s expectations, except as required by law.

Investor Contact:Lynn Lewis or Carrie [e-mail]

Media Contact:Joe [e-mail]