CONR Conor Medsystems

MENLO PARK, Calif., July 27 /PRNewswire-FirstCall/ -- Conor Medsystems, Inc. (NASDAQ:CONR) today announced the pricing of an underwritten public offering of 3,500,000 shares of newly issued common stock at a price to the public of $27.50 per share, resulting in estimated net proceeds to Conor Medsystems of approximately $89.9 million. Conor Medsystems and a selling stockholder have granted the underwriters a 30-day option to purchase up to an aggregate of 525,000 additional shares of common stock to cover over- allotments, if any. Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated are acting as joint book-running managers of the offering, and, together with Lehman Brothers Inc., Cowen and Company, LLC and CIBC World Markets Corp., are the managing underwriters. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state in which such offer, solicitation or sale is not permitted. Copies of the prospectus supplement and accompanying prospectus may be obtained from the prospectus department of Citigroup Global Markets Inc. (Prospectus Department, 140 58th Street, Brooklyn, NY 11220, Fax: 718-765-6734), or the prospectus department of Morgan Stanley & Co. Incorporated at 180 Varick, New York, NY, 10014, by telephone at 866-718-1649 or by emailing . About Conor Medsystems Conor Medsystems, Inc. develops innovative controlled vascular drug delivery technologies, and has initially focused on the development of drug eluting stents to treat coronary artery disease. DATASOURCE: Conor Medsystems, Inc. CONTACT: Investors: Michael Boennighausen, Chief Financial Officer of Conor Medsystems, +1-650-614-4100 Web site: http://www.conormed.com/

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