EndoChoice® Announces Full Exercise of Underwriters' Option to Purchase Additional Shares

ATLANTA, June 9, 2015 /PRNewswire/ -- EndoChoice Holdings, Inc. (NYSE: GI) today announced that the underwriters participating in its initial public offering of common stock have exercised in full their option to purchase an additional 702,500 shares from the company and 250,000 shares from certain selling stockholders at the public offering price of $15.00 per share, less underwriting discounts and commissions. Total proceeds to EndoChoice from the offering, including proceeds from the option exercise, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $94.9 million. The closing of the option exercise is expected to occur concurrent with the closing of the offering on June 10, 2015, subject to customary closing conditions. 

EndoChoice's common stock began trading on the New York Stock Exchange on June 5, 2015, under the ticker symbol "GI". J.P. Morgan and BofA Merrill Lynch acted as joint book-running managers for the offering.  William Blair and Stifel are acting as co-managers for the offering.

A registration statement relating to these securities was filed with the Securities and Exchange Commission and has been declared effective. The offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone: +1 (866) 803-9204); or BofA Merrill Lynch, Attention: Prospectus Dept., 222 Broadway, New York, NY 10038, or: [email protected].

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 EndoChoice

Based in the Atlanta, Georgia area, EndoChoice is a medtech company focused on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists screening, diagnosing and treating a wide range of gastrointestinal conditions, including colon cancer. EndoChoice leverages its direct sales organization to serve more than 2,500 customers in the United States and works with distribution partners in 25 countries. The Company was founded in 2008 and has developed a broad and innovative product portfolio, which includes the Full Spectrum Endoscopy® System (Fuse®).

EndoChoice, Fuse, and Full Spectrum Endoscopy are registered trademarks of EndoChoice, Inc.

For more information:

Company Contact 
David Gill, Chief Financial Officer
[email protected] 
678-585-1040

SOURCE EndoChoice, Inc.

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