Miramar Labs

Canaccord Genuity acts as financial advisor to Miramar Labs, Inc. on its sale to Sientra, Inc.

Canaccord Genuity is pleased to announce that on June 12, 2017, Miramar Labs, Inc. (OTCQB:MRLB), a global medical device company dedicated to bringing innovative and clinically proven applications to treat unmet needs in the aesthetic marketplace, and Sientra, Inc. (NASDAQ:SIEN), a medical aesthetics company, announced that the two companies have entered into a definitive agreement under which Sientra has agreed to acquire Miramar for an aggregate transaction value of $20 million in upfront cash plus contractual rights for potential contingent payments of up to $14 million in cash upon the achievement of certain milestones.

The transaction, which has been approved by the boards of directors of both companies, is subject to the satisfaction of customary closing conditions, including the tender of a majority of shares of Miramar common stock. The transaction is expected to close in mid-July of 2017.

Canaccord Genuity served as financial advisor to Miramar and its Board of Directors and provided a fairness opinion in connection with the transaction.

Miramar is a global medical device company focused on developing and commercializing products utilizing its proprietary microwave technology platform to treat unmet needs in the aesthetic marketplace. Miramar’s first commercial product, the miraDry System, is the only non-invasive, FDA-cleared treatment for the reduction of underarm sweat, odor and hair of all colors.

Sientra is a medical aesthetics company committed to improving patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. Sientra offers breast implants and breast tissue expanders which it sells exclusively to board-certified and board-admissible plastic surgeons.