0001193125-15-269182.txt : 20150730 0001193125-15-269182.hdr.sgml : 20150730 20150730061135 ACCESSION NUMBER: 0001193125-15-269182 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150730 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150730 DATE AS OF CHANGE: 20150730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SeaSpine Holdings Corp CENTRAL INDEX KEY: 0001637761 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 473251758 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36905 FILM NUMBER: 151014238 BUSINESS ADDRESS: STREET 1: 2302 LA MIRADA DRIVE CITY: VISTA STATE: CA ZIP: 92081 BUSINESS PHONE: (760) 727-8399 MAIL ADDRESS: STREET 1: 2302 LA MIRADA DRIVE CITY: VISTA STATE: CA ZIP: 92081 8-K 1 d45219d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 30, 2015

 

 

SeaSpine Holdings Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001- 36905   47-3251758

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

2302 La Mirada Drive,

Vista, California

  92081
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (760) 727-8399

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 2.02 Results of Operations and Financial Condition.

On July 30, 2015, SeaSpine Holdings Corporation issued a press release announcing certain preliminary financial results for the quarter ended June 30, 2015. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.

  

Exhibit Description

99.1    Press release issued on July 30, 2015.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

SeaSpine Holdings Corporation
By:  

 /s/ John J. Bostjancic

  Name: John J. Bostjancic
  Title:   Chief Financial Officer

Date: July 30, 2015


Exhibit Index

 

Exhibit No.

  

Exhibit Description

99.1    Press release issued on July 30, 2015.
EX-99.1 2 d45219dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

News Release

 

LOGO

SeaSpine Announces Preliminary Second Quarter 2015 Revenue and Provides Revenue Outlook for 2015

Company to Report Second Quarter Financial Results on August 13, 2015

Vista, CA / July 30, 2015 – SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced preliminary revenue for the second quarter of 2015 and provided its revenue expectation for the full year 2015.

 

    Total revenue for second quarter 2015 is expected to be $33.5 million, reflecting a decline of approximately 6% vs. corresponding quarter in the prior year

 

    Orthobiologics revenue for second quarter 2015 is expected to be $17.0 million, reflecting growth of 1% vs. corresponding quarter in the prior year

 

    Spinal Fusion Hardware revenue for second quarter 2015 is expected to be $16.5 million, reflecting a decline of 13% vs. corresponding quarter in the prior year

 

    Revenue for the full year 2015 is expected to be in the range of $133 million to $139 million, or flat to a 4% decline vs. 2014, unchanged from guidance previously provided by Integra LifeSciences

“Our second quarter 2015 revenues, within Integra LifeSciences’ diversified portfolio, are in line with our expectations and reflect recent trends in both of our product portfolios,” said Keith Valentine, President and Chief Executive Officer of SeaSpine. “Moving forward from July 1 as an independent public company, we are investing in innovation and growth initiatives which are supported by our leading orthobiologics platform and a robust R&D pipeline, which includes several spinal fusion hardware products that we recently launched and additional products expected to launch in the second half of 2015. We look forward to providing additional detail on our growth strategy and our outlook for 2015 when we release our complete second quarter 2015 results in mid-August.”

SeaSpine will release its financial results for the second quarter of 2015 after the close of trading on Thursday, August 13, 2015. The Company’s management team will host a corresponding conference call beginning at 1:30pm PT/4:30pm ET to discuss its financial results and recent business developments. Financial results for the second quarter of 2015 will be reported using the same carve out basis of accounting that was used for reporting SeaSpine’s financial results in the Form 10 Registration Statement, as amended, filed with the Securities and Exchange Commission.


Webcast and Conference Call Information

Individuals interested in listening to the conference call may do so by dialing (855) 542-4216 for domestic callers or (412) 455-6079 for international callers, using Conference ID: 85028802. To listen to a live webcast, please visit the investor relations section of the SeaSpine website at www.seaspine.com.

A replay of the call will be available beginning August 13, 2015 at 4:30pm PT/7:30pm ET through midnight ET on August 14, 2015. To access the replay, dial (855) 859-2056 or (404) 537-3406 and reference Conference ID: 85028802. The webcast will also be available on the SeaSpine website for one month following the completion of the call.

About SeaSpine

SeaSpine is a global medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal fusion hardware solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal fusion hardware portfolio consists of an extensive line of products to facilitate spinal fusion in minimally invasive surgery (MIS), complex spine, deformity and degenerative procedures. Expertise in both orthobiologic sciences and spinal fusion hardware product development allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete solution to meet their fusion requirements. SeaSpine currently markets its products through a network of independent sales agents in the United States and through stocking distributors in over 30 countries worldwide. Read more about SeaSpine at the company’s website, www.seaspine.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and reflects the Company’s judgment as of the date of this release. Such forward-looking statements include preliminary revenue estimates, 2015 revenue guidance and statements regarding SeaSpine’s expected new product launches in 2015. Actual results may differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited to: potential changes in estimated second quarter 2015 financial amounts based on the completion of financial closing procedures and release of complete second quarter 2015 results on August 13, 2015; actions by governmental and regulatory authorities; delays, costs and difficulties related to the spin-off and the operation as a separate, publicly traded company following the spin-off; general economic and political conditions globally and in the markets in which SeaSpine does business; and other factors identified under the heading “Risk Factors” of SeaSpine’s Form 10 Registration Statement, as amended, filed with the Securities and Exchange Commission. These forward-looking statements are made only as the date thereof, and, except as required by law, SeaSpine undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.


Investor Relations Contact:

Lynn Pieper or Leigh Salvo

(415) 513-1281

ir@seaspine.com

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