SAN MATEO, Calif., May 5 /PRNewswire-FirstCall/ -- BioForm Medical, Inc.
(Nasdaq: BFRM) announced today that lock-up agreements entered into with its
underwriters in conjunction with its initial public offering will be extended
18 days beyond the Company's May 1, 2008 earnings release. The lock-up period
was due to expire on May 3, but the Company's underwriting agreement provided
for an extension, depending on the timing of BioForm Medical's quarterly
earnings press release. The first sales of shares restricted by the
underwriter's lock-up may take place on Tuesday, May 20, 2008. Approximately
33 million shares will become eligible for sale in the public market upon
expiration of the underwriters' lock-up, of which approximately 10 million
shares will be freely tradable under Rule 144(b) and the remainder will be
held by affiliates and other stockholders subject to the volume and other
restrictions of Rule 144.
An additional number of shares equal to less than 5.0% of the shares
outstanding prior to the November 2007 initial public offering were either not
subject to a lock-up agreement or were subject to a lock-up agreement with the
Company, the terms of which were less restrictive than the lock-up agreement
with the underwriters, and, as such, became freely tradeable on May 5, 2008.
About BioForm Medical, Inc.:
BioForm Medical, Inc. is a medical aesthetics company headquartered in San
Mateo, California, developing products that enhance aesthetic procedures
performed in dermatology and plastic surgery practices. BioForm's lead product
is Radiesse(R), a long-lasting dermal filler for use in facial aesthetics.
BioForm is developing several future aesthetics products including a nerve
ablation device for frown lines, a sclerotherapy treatment for spider veins,
and a surgical adhesive for brow lifts.
Contact:
Adam Gridley
650.286.4025
Vice President, Corporate Development
BioForm Medical, Inc.
SOURCE BioForm Medical, Inc.