CARLSBAD, CALIFORNIA--(Marketwired - Aug. 27, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES.
Aurora Spine Corporation ("Aurora Spine") is pleased to announce that it has filed a final prospectus with the securities regulatory authorities in the provinces of Alberta and Ontario in connection with a proposed initial public offering of 5,150,000 common shares at a price per share of USD$0.70, for total gross proceeds of USD$3,605,000. The offering is being made on a "best efforts" agency basis by M Partners Inc.
Prior to, and in connection with, the offering, Aurora Spine will become the sole stockholder of Aurora Spine, Inc., an early stage company focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies.
The majority of the proceeds of the offering will be used to fund costs associated with completing development, testing and launching of Aurora Spine's second lumbar fusion device.
The final prospectus, which contains important information relating to Aurora Spine and the common shares being offered, may be obtained on SEDAR and is available for review at www.sedar.com.
The offering is expected to close on or about September 4, 2013. Aurora Spine has received conditional listing approval for the listing of its common shares on the TSX Venture Exchange (the "TSXV") under the symbol "ASG" subject to Aurora Spine fulfilling all of the listing requirements of the TSXV.
This press release does not constitute an offer to sell or the solicitation of any offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of any offer to buy or a sale would be unlawful.
About Aurora Spine
Aurora Spine is an early stage company focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies.
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurora Spine, including, without limitation, those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" in Aurora Spine's final prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes information concerning the proposed initial public offering, the use of proceeds and the completion and receipt of necessary authorization from securities regulatory authorities. Aurora Spine cautions investors of Aurora Spine's securities about important factors that could cause Aurora Spine's actual results to differ materially from those projected in any forward-looking statements included in this news release, including the risk that the offering will not be completed. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ unilaterally from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in Aurora Spine's final prospectus or herein will prove to be correct and, accordingly, prospective investors should not place undue reliance on these forward looking statements. These statements speak only as of the date of this press release and Aurora Spine does not assume any obligation to update or revise them to reflect new events or circumstances.