Beta Bionics Announces Pricing of Upsized $204 Million Initial Public Offering
Beta Bionics has announced the pricing of its upsized initial public offering of 12,000,000 shares of common stock at $17.00 per share, expecting to raise gross proceeds of $204.0 million. The company's shares will begin trading on the Nasdaq Global Market on January 30, 2025, under the ticker symbol BBNX.
The underwriters have a 30-day option to purchase up to an additional 1,800,000 shares. Additionally, Beta Bionics has agreed to sell 1,000,000 shares in a concurrent private placement at the same price, bringing the total potential gross proceeds to $221.0 million before expenses.
The offering is expected to close on January 31, 2025. BofA Securities, Piper Sandler, and Leerink Partners are acting as lead bookrunners, with Stifel as bookrunner and Lake Street Capital Markets as co-manager.
Beta Bionics ha annunciato il prezzo della sua offerta pubblica iniziale aumentata di 12.000.000 azioni di azioni ordinarie a $17,00 per azione, prevedendo di raccogliere proventi lordi di $204,0 milioni. Le azioni dell'azienda inizieranno a essere negoziate sul Nasdaq Global Market il 30 gennaio 2025, con il simbolo ticker BBNX.
Gli underwriter hanno un'opzione di 30 giorni per acquistare ulteriori 1.800.000 azioni. Inoltre, Beta Bionics ha accettato di vendere 1.000.000 azioni in un collocamento privato simultaneo allo stesso prezzo, portando il totale potenziale dei proventi lordi a $221,0 milioni prima delle spese.
Si prevede che l'offerta si chiuda il 31 gennaio 2025. BofA Securities, Piper Sandler e Leerink Partners stanno fungendo da lead bookrunners, con Stifel come bookrunner e Lake Street Capital Markets come co-manager.
Beta Bionics ha anunciado el precio de su oferta pública inicial ampliada de 12.000.000 acciones de acciones comunes a $17.00 por acción, con la expectativa de recaudar ingresos brutos de $204.0 millones. Las acciones de la compañía comenzarán a cotizar en el Nasdaq Global Market el 30 de enero de 2025, bajo el símbolo de ticker BBNX.
Los suscriptores tienen una opción de 30 días para comprar hasta 1.800.000 acciones adicionales. Además, Beta Bionics ha acordado vender 1.000.000 acciones en una colocación privada concurrente al mismo precio, llevando el total de ingresos brutos potenciales a $221.0 millones antes de gastos.
Se espera que la oferta cierre el 31 de enero de 2025. BofA Securities, Piper Sandler y Leerink Partners están actuando como principales bookrunners, con Stifel como bookrunner y Lake Street Capital Markets como co-manager.
Beta Bionics는 12,000,000 주의 보통주에 대한 대규모 기업공개 가격을 주당 $17.00로 발표하고, $204.0 백만의 총 수익을 올릴 것으로 예상하고 있습니다. 회사의 주식은 2025년 1월 30일부터 BBNX라는 티커 심볼로 나스닥 글로벌 마켓에서 거래를 시작합니다.
인수자들은 추가로 1,800,000 주를 구매할 수 있는 30일 옵션을 가지고 있습니다. 또한, Beta Bionics는 동일한 가격으로 1,000,000 주를 동시 사모 배정으로 판매하기로 동의하여 총 잠재적 총 수익을 $221.0 백만으로 늘리고 있습니다.
이번 공모는 2025년 1월 31일에 마감될 예정입니다. BofA Securities, Piper Sandler, Leerink Partners가 주요 북런너로 활동하며, Stifel이 북런너, Lake Street Capital Markets가 공동 관리자를 맡고 있습니다.
Beta Bionics a annoncé le prix de son augmentation d'offre publique initiale de 12.000.000 actions d'actions ordinaires à 17,00 $ par action, s'attendant à générer des produits bruts de 204,0 millions de dollars. Les actions de la société commenceront à être négociées sur le Nasdaq Global Market le 30 janvier 2025, sous le symbole boursier BBNX.
Les souscripteurs ont une option de 30 jours pour acheter jusqu'à 1.800.000 actions supplémentaires. De plus, Beta Bionics a accepté de vendre 1.000.000 actions dans le cadre d'un placement privé simultané au même prix, portant le montant total potentiel des produits bruts à 221,0 millions de dollars avant frais.
La clôture de l'offre est prévue pour le 31 janvier 2025. BofA Securities, Piper Sandler et Leerink Partners agissent en tant que主导zwischenbuchführer, avec Stifel comme bookrunner et Lake Street Capital Markets comme co-manager.
Beta Bionics hat den Preis für ihr erhöhtes öffentliches Angebot von 12.000.000 Aktien zu einem Preis von 17,00 $ pro Aktie bekannt gegeben und erwartet, brutto 204,0 Millionen $ einzunehmen. Die Aktien des Unternehmens werden ab dem 30. Januar 2025 an der Nasdaq Global Market unter dem Tickersymbol BBNX gehandelt.
Die Underwriter haben eine 30-tägige Option, bis zu 1.800.000 weitere Aktien zu kaufen. Darüber hinaus hat Beta Bionics zugestimmt, 1.000.000 Aktien im Rahmen einer gleichzeitigen Privatplatzierung zum gleichen Preis zu verkaufen, wodurch die insgesamt möglichen Bruttoeinnahmen auf 221,0 Millionen $ vor Kosten steigen.
Der Abschluss des Angebots wird für den 31. Januar 2025 erwartet. BofA Securities, Piper Sandler und Leerink Partners fungieren als Hauptbuchführer, während Stifel als Buchführer und Lake Street Capital Markets als Co-Manager tätig sind.
- Successful upsized IPO raising $204.0 million in gross proceeds
- Additional $17 million secured through concurrent private placement
- Strong underwriting support from major financial institutions
- Listing on Nasdaq Global Market enhances visibility and liquidity
- Potential dilution from additional 1.8 million shares if underwriters exercise their option
- Company will not receive proceeds from selling stockholders' shares
- Significant offering expenses and underwriting discounts will reduce net proceeds
Insights
The successful pricing of Beta Bionics' upsized IPO at
The concurrent
The combined
The 30-day overallotment option for an additional 1.8 million shares provides flexibility for price stabilization, though the split between company and selling stockholder shares (
Beta Bionics' successful IPO marks a pivotal moment in the evolution of automated insulin delivery systems. The company's iLet Bionic Pancreas system represents a significant advancement in closed-loop insulin delivery technology, potentially offering improved glycemic control compared to traditional insulin pumps.
The substantial
The strong investor response reflects growing confidence in next-generation diabetes management technologies, particularly those leveraging artificial intelligence and automation. Beta Bionics' dual-hormone approach, capable of delivering both insulin and glucagon, positions it uniquely in the market. The capital raised should support both ongoing R&D efforts and the critical phase of market penetration, where education and adoption by healthcare providers will be key success factors.
IRVINE, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Beta Bionics, Inc., a pioneering leader in the development of advanced diabetes management solutions, today announced the pricing of its upsized initial public offering of 12,000,000 shares of common stock at a price to the public of
The shares are expected to begin trading on the Nasdaq Global Market on January 30, 2025 under the ticker symbol “BBNX.” The offering is expected to close on January 31, 2025, subject to the satisfaction of customary closing conditions.
BofA Securities, Piper Sandler and Leerink Partners are acting as lead bookrunners for the proposed offering. Stifel is acting as a bookrunner and Lake Street Capital Markets is acting as co-manager for the offering.
Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on January 29, 2025. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. This offering was made only by means of a prospectus forming part of the registration statements relating to these securities. When available, copies of the final prospectus relating to the initial public offering may be obtained from: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; or Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com.
In addition, Beta Bionics has agreed to sell 1,000,000 shares of its common stock in a concurrent private placement to one of its existing investors at the initial public offering price of
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Beta Bionics
Beta Bionics, Inc. is a commercial-stage medical device company engaged in the design, development, and commercialization of innovative solutions to improve the health and quality of life of insulin-requiring people with diabetes (PWD) by utilizing advanced adaptive closed-loop algorithms to simplify and improve the treatment of their disease. The iLet Bionic Pancreas is the first FDA-cleared insulin delivery device that autonomously determines every insulin dose and offers the potential to substantially improve overall outcomes across broad populations of PWD.
Investor Relations Contact:
Blake Beber, Head of Investor Relations, ir@betabionics.com
Media and Public Relations Contact:
Karen Hynes, Vice President of Marketing, media@betabionics.com
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