Entellus Medical Announces Pricing of Public Offering of Common Stock

PLYMOUTH, Minn., Jan. 25, 2017 -- Entellus Medical, Inc. (the “Company” or “Entellus Medical”) (NASDAQ:ENTL), a medical technology company focused on delivering superior patient and physician experiences through products designed for the minimally invasive treatment of chronic and recurrent sinusitis in both adult and pediatric patients, today announced the pricing of its underwritten public offering of 3,530,000 shares of its common stock at a price of $17.00 per share before underwriting discounts and commissions. Entellus Medical is selling 2,353,530 shares of its common stock in this offering, and certain existing stockholders are selling 1,176,470 shares of common stock in this offering. Entellus Medical will not receive any proceeds from the sale of shares by the existing selling stockholders. In addition, Entellus Medical has granted to the underwriters a 30-day option to purchase up to an additional 529,500 shares of its common stock at the public offering price. The offering is expected to close on or about January 31, 2017, subject to customary closing conditions.

Entellus Medical intends to use the net proceeds from the offering for working capital purposes, which may include repayments on its credit facility, and for other general corporate purposes.

BofA Merrill Lynch and Piper Jaffray & Co. are acting as joint book running managers for the offering. William Blair is acting as co-manager.

A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (the “SEC”) on March 3, 2016 (File No. 333-209905) and became effective on March 16, 2016. The offering is being made only by means of the written prospectus and preliminary prospectus supplement that form a part of the registration statement. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at [email protected], or from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by e-mail at [email protected] or by telephone at (800) 747-3924.

This press release does 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 Entellus Medical, Inc.

Entellus Medical is a medical technology company focused on delivering superior patient and physician experiences through products designed for the minimally invasive treatment of chronic and recurrent sinusitis in both adult and pediatric patients.  The Entellus Medical platform of products provides effective and easy-to-use solutions intended to help simplify everything from diagnosis and patient selection, to complex case revisions and post-operative care. Entellus Medical’s core product lines, XprESS™ Multi-Sinus Dilation Systems, MiniFESS™ Surgical Instruments, XeroGel Nasal Dressing and FocESS™ Imaging & Navigation, combine to enable ENT physicians to conveniently and comfortably perform a broad range of procedures in the office and simplify treatment based in the operating room. Entellus Medical is committed to broadening its product portfolio with high-quality and purposeful innovations for the global ENT market.

Forward-Looking Statements:

All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements regarding the proposed public offering and the anticipated use of proceeds therefrom, and are subject to a number of risks and uncertainties that may cause actual results or outcomes to be materially different from those expressed or implied by the forward-looking statements. These risks and uncertainties include market risks and those relating to the satisfaction of customary closing conditions for an underwritten offering of securities, as well as the risks and uncertainties that could affect the Company’s business and financial results described in the preliminary prospectus supplement and registration statement referenced above, as well as the Company’s other filings with the SEC, including, without limitation under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. Forward-looking statements relate only to events as of the date on which the statements are made. Entellus Medical undertakes no obligation to update or revise any forward-looking statements, even if subsequent events cause its views to change, except as required by law.

Contact: Lynn Pieper Lewis
415-937-5402
[email protected]