Obagi Medical Products prices secondary offering

Obagi Medical Products, Inc. (NASDAQ: OMPI), a leader in topical aesthetic and therapeutic skin health systems, today announced the pricing of the secondary public offering of 2,690,244 shares of its common stock by the Stonington Capital Appreciation 1994 Fund, L.P. and the Zein and Samar Obagi Family Trust, at a public offering price of $10.25 per share. The Company will not receive any proceeds from the sale of shares by these selling stockholders in the secondary offering. The closing of the secondary offering is expected to take place on November 24, 2010.

Stifel Nicolaus Weisel is acting as sole underwriter for the secondary offering.

The Company also announced that it will repurchase an additional 3,556,910 shares from the selling stockholders at a price of $9.84 per share, which is equal to the public offering price less the applicable underwriter's discount, pursuant to its previously announced Stock Purchase Agreement with the selling stockholders. Upon completion of the secondary offering and the Company's repurchase of shares from the selling stockholders, the Company expects that the selling stockholders will cease to own any shares of the Company's common stock. The Company expects the purchase of the shares from the selling stockholders to close on the third business day following the closing of the secondary offering.

The registration statement relating to the shares offered in the secondary offering was filed with the Securities and Exchange Commission (the "SEC") on October 26, 2010 and was declared effective on November 15, 2010. A copy of the final prospectus relating to the offering, when available, may be obtained by contacting: Stifel Nicolaus Weisel, Equity Syndicate Department, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attention: General Counsel, or by phone at (415) 364-2500.

SOURCE Obagi Medical Products, Inc.


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