FORT LAUDERDALE, Fla., May 18, 2009 (GLOBE NEWSWIRE) — MAKO Surgical Corp. (NasdaqGM:MAKO – News), a medical device company that markets both its robotic arm interactive orthopedic surgical platform and proprietary RESTORIS(r) implants for minimally invasive orthopedic knee procedures known as MAKOplasty(r), today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission. The shelf registration statement, when declared effective by the Securities and Exchange Commission, will allow MAKO the flexibility to offer and sell from time to time over a three-year period, in one or more public offerings, up to $50 million of debt securities, common stock, preferred stock, warrants, stock purchase contracts, stock purchase units, or any combination thereof. The terms of any such offerings will be established at the time of the offering, will be subject to market conditions and will be described in a supplement to the prospectus.
MAKO previously announced an equity financing in October 2008 that included the right to require certain participating investors to purchase, at MAKO’s option, an additional $20 million of common stock and warrants to purchase common stock upon MAKO’s satisfaction of certain business related milestones before December 31, 2009.
“We believe that our shelf registration statement will provide MAKO enhanced flexibility in accessing additional capital,” said Dr. Maurice R. Ferre, President, CEO and Chairman of MAKO. “This potentially could involve the exercise of our existing $20 million call option or pursuing a more favorable financing alternative based on market conditions,” he said.