Kestra Medical Technologies, Ltd. Announces Pricing of Upsized Initial Public Offering
Kestra Medical Technologies, a wearable medical device and digital healthcare company, has announced the pricing of its upsized IPO of 11,882,352 common shares at $17.00 per share. The shares will trade on the Nasdaq Global Select Market under the symbol 'KMTS' starting March 6, 2025.
The company expects to raise approximately $202 million in gross proceeds before deducting underwriting costs and other expenses. Underwriters have a 30-day option to purchase up to 1,782,352 additional shares at the IPO price. The offering is expected to close on March 7, 2025.
Lead bookrunners include BofA Securities, Goldman Sachs & Co. , and Piper Sandler, with Wells Fargo Securities and Stifel as bookrunners and Wolfe | Nomura Alliance as co-manager.
Kestra Medical Technologies, un'azienda di dispositivi medici indossabili e di salute digitale, ha annunciato il prezzo della sua IPO ampliata di 11.882.352 azioni ordinarie a $17,00 per azione. Le azioni saranno scambiate sul Nasdaq Global Select Market con il simbolo 'KMTS' a partire dal 6 marzo 2025.
L'azienda prevede di raccogliere circa $202 milioni in proventi lordi prima di dedurre i costi di sottoscrizione e altre spese. I sottoscrittori hanno un'opzione di 30 giorni per acquistare fino a 1.782.352 azioni aggiuntive al prezzo dell'IPO. L'offerta dovrebbe chiudersi il 7 marzo 2025.
I principali bookrunner includono BofA Securities, Goldman Sachs & Co. e Piper Sandler, con Wells Fargo Securities e Stifel come bookrunner e Wolfe | Nomura Alliance come co-manager.
Kestra Medical Technologies, una empresa de dispositivos médicos portátiles y atención médica digital, ha anunciado el precio de su IPO ampliada de 11,882,352 acciones ordinarias a $17.00 por acción. Las acciones se negociarán en el Nasdaq Global Select Market bajo el símbolo 'KMTS' a partir del 6 de marzo de 2025.
La empresa espera recaudar aproximadamente $202 millones en ingresos brutos antes de deducir los costos de suscripción y otros gastos. Los suscriptores tienen una opción de 30 días para comprar hasta 1,782,352 acciones adicionales al precio de la IPO. Se espera que la oferta cierre el 7 de marzo de 2025.
Los principales bookrunners incluyen BofA Securities, Goldman Sachs & Co. y Piper Sandler, con Wells Fargo Securities y Stifel como bookrunners y Wolfe | Nomura Alliance como co-manager.
Kestra Medical Technologies는 웨어러블 의료 기기 및 디지털 헬스케어 회사로, 11,882,352주의 공모주를 주당 $17.00에 가격을 책정했다고 발표했습니다. 이 주식은 Nasdaq Global Select Market에서 'KMTS'라는 심볼로 2025년 3월 6일부터 거래될 예정입니다.
회사는 인수 비용 및 기타 비용을 공제하기 전 약 $202백만의 총 수익을 올릴 것으로 예상하고 있습니다. 인수자는 IPO 가격으로 최대 1,782,352주의 추가 주식을 구매할 수 있는 30일 옵션을 가지고 있습니다. 이 공모는 2025년 3월 7일에 마감될 예정입니다.
주요 북런너에는 BofA Securities, Goldman Sachs & Co. 및 Piper Sandler가 포함되며, Wells Fargo Securities와 Stifel이 북런너로, Wolfe | Nomura Alliance가 공동 관리자 역할을 합니다.
Kestra Medical Technologies, une entreprise de dispositifs médicaux portables et de santé numérique, a annoncé le prix de son IPO élargie de 11 882 352 actions ordinaires à 17,00 $ par action. Les actions seront négociées sur le Nasdaq Global Select Market sous le symbole 'KMTS' à partir du 6 mars 2025.
L'entreprise s'attend à lever environ 202 millions de dollars en recettes brutes avant de déduire les coûts de souscription et autres dépenses. Les souscripteurs ont une option de 30 jours pour acheter jusqu'à 1 782 352 actions supplémentaires au prix de l'IPO. L'offre devrait se clôturer le 7 mars 2025.
Les principaux bookrunners incluent BofA Securities, Goldman Sachs & Co. et Piper Sandler, avec Wells Fargo Securities et Stifel comme bookrunners et Wolfe | Nomura Alliance comme co-manager.
Kestra Medical Technologies, ein Unternehmen für tragbare medizinische Geräte und digitale Gesundheitsversorgung, hat den Preis für sein erweitertes IPO von 11.882.352 Stammaktien zu $17,00 pro Aktie bekannt gegeben. Die Aktien werden ab dem 6. März 2025 unter dem Symbol 'KMTS' am Nasdaq Global Select Market gehandelt.
Das Unternehmen erwartet, etwa $202 Millionen an Bruttoerlösen vor Abzug von Underwriting-Kosten und anderen Ausgaben zu erzielen. Die Underwriter haben eine 30-tägige Option, bis zu 1.782.352 zusätzliche Aktien zum IPO-Preis zu kaufen. Das Angebot soll am 7. März 2025 abgeschlossen werden.
Die Hauptbuchführer sind BofA Securities, Goldman Sachs & Co. und Piper Sandler, während Wells Fargo Securities und Stifel als Buchführer und Wolfe | Nomura Alliance als Co-Manager fungieren.
- Upsized IPO indicating strong market demand
- Substantial capital raise of $202M
- Listed on prestigious Nasdaq Global Select Market
- Strong underwriter lineup including major investment banks
- Potential dilution from over-allotment option
- Additional dilution from new share issuance
Insights
Kestra Medical Technologies' upsized IPO represents a significant capital event with several positive indicators. At
The "upsized" designation is particularly noteworthy, indicating demand exceeded initial offering plans, allowing Kestra to sell more shares than originally intended. This suggests strong institutional interest during the book-building process, a positive market reception that shouldn't be overlooked.
The company's selection of the Nasdaq Global Select Market - which maintains the most stringent initial listing requirements of any exchange globally - further signals confidence in Kestra's financial fundamentals and governance structures.
The underwriting syndicate features top-tier investment banks including BofA Securities, Goldman Sachs, and Piper Sandler as lead bookrunners, with Wells Fargo Securities and Stifel as additional bookrunners. This heavyweight banking lineup indicates institutional validation of Kestra's business model and growth trajectory.
The 30-day overallotment option (greenshoe) of up to 1.78 million additional shares provides flexibility to accommodate excess demand and potentially increases proceeds by approximately
This capital infusion positions Kestra to accelerate its growth initiatives in the wearable medical device and digital healthcare sectors, providing runway to expand R&D efforts, scale manufacturing, and enhance market penetration without immediate dilutive follow-on offerings.
Kestra's successful IPO marks a significant milestone in the wearable medical device and digital healthcare landscape. The
The wearable medical device market sits at the intersection of healthcare and technology, experiencing rapid evolution as continuous monitoring capabilities transform patient care paradigms. Companies in this space typically pursue capital-intensive development cycles with initial R&D, followed by clinical validation, regulatory approval processes, and finally, market penetration strategies.
Kestra now has the financial foundation to potentially accelerate its product development timeline, expand clinical evidence generation, and build robust commercialization infrastructure. The public listing also enhances corporate visibility among potential healthcare partners, including providers, payers, and pharmaceutical companies that increasingly seek digital health collaborations.
The strong market reception to this offering, evidenced by its upsized nature, suggests institutional investors recognize value in Kestra's approach to the digital health ecosystem. This vote of confidence is particularly meaningful in today's market, where investors have become increasingly selective about healthcare technology investments, favoring companies with clear paths to clinical utility and commercial adoption.
While specific product details aren't mentioned in the announcement, the successful raise positions Kestra competitively within the evolving wearable medical device landscape, where sustainable growth often depends on continuous innovation and clinical validation capabilities.
KIRKLAND, Wash., March 05, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (“Kestra”), a wearable medical device and digital healthcare company, today announced the pricing of its upsized initial public offering of 11,882,352 common shares at a public offering price of
In addition, the underwriters will have a 30-day over-allotment option to purchase up to 1,782,352 additional common shares from Kestra at the initial public offering price, less underwriting discounts and commissions. The common shares are expected to begin trading on the Nasdaq Global Select Market on March 6, 2025, under the ticker symbol “KMTS.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kestra, are expected to be approximately
BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler are acting as lead bookrunners for the proposed offering. Wells Fargo Securities and Stifel are acting as bookrunners and Wolfe | Nomura Alliance is acting as co-manager for the proposed offering.
The proposed offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by facsimile at 212-902-9316, by email at Prospectus-ny@ny.email.gs.com, or by calling 1-866-471-2526.; or Piper Sandler, by email at prospectus@psc.com, or by calling (800) 747-3924.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on March 5, 2025. This press release shall not constitute an offer to sell or the 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 registration or qualification under the securities laws of any such state or jurisdiction.
About Kestra
Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected.
Disclaimer
“Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura and Wolfe Research Securities are serving as underwriters in the offering described herein. In addition, Wolfe Research Securities may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with the offering.
Investor Contact
Marissa Bych or Webb Campbell
Gilmartin Group
investor.relations@kestramedical.com
FAQ
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