TRIA Beauty Postpones Initial Public Offering
DUBLIN, Calif., May 23, 2012 /PRNewswire/ -- TRIA Beauty, Inc. today announced that it would postpone its initial public offering, expected to price this week, citing unfavorable market conditions. TRIA Beauty's registration statement on Form S-1, as filed with the U.S. Securities and Exchange Commission, has not been withdrawn and the company expects to continue to evaluate the timing for the offering.
"The current volatility of the stock market and ongoing global economic instability do not provide an attractive environment for us to price this transaction at this time," Chief Executive Kevin Appelbaum said.
Morgan Stanley and Piper Jaffray were acting as joint book-running managers and Wells Fargo Securities was acting as co-manager.
A registration statement relating to this offering was filed with the U.S. Securities and Exchange Commission, but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of any 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 TRIA Beauty, Inc.:
TRIA Beauty brings clinically-proven light-based aesthetic medical technologies out of the physician's office and into the home. The Company sells easy-to-use, FDA-cleared handheld medical devices to consumers that deliver results comparable to professional aesthetic treatments at a fraction of the cost. The Company's Hair Removal Laser is a diode laser device that provides permanent reduction in hair regrowth and its Skin Perfecting Blue Light uses high-intensity blue light to treat mild to moderate acne.
SOURCE TRIA Beauty, Inc.
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