Apollo Endosurgery (APEN) Commences Common Stock Offering

October 12, 2021 4:02 PM EDT

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Apollo Endosurgery, Inc. ("Apollo") (NASDAQ: APEN), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the common stock is being offered by Apollo. In addition, Apollo expects to grant the underwriters a 30-day option to purchase additional shares of common stock.

Apollo intends to use the net proceeds of the proposed offering to invest in opportunities to drive growth, such as expanding sales and marketing programs, expanding the indications of certain of its products and developing new products, to potentially refinance or partially pay down existing indebtedness under Apollo's term loan with Solar Capital, and for working capital and other general corporate purposes.

Piper Sandler, Cowen and Stifel are acting as the joint book-running managers for the proposed offering. Craig-Hallum and Lake Street are acting as co-managers for the offering. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms of the proposed offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, filed by Apollo with the Securities and Exchange Commission (the "SEC"), which was declared effective by the SEC on May 19, 2021. The offering may be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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