Lucira Health Announces Pricing of Its Upsized Initial Public Offering

Rhea-AI Summary

Lucira Health announced the pricing of its upsized initial public offering (IPO) of 9,000,000 shares at $17.00 per share, aiming to raise approximately $153 million before expenses. The offering includes a 30-day option for underwriters to purchase an additional 1,350,000 shares. Trading on the Nasdaq under the ticker symbol LHDX is set to commence on February 5, 2021, with the closing expected on February 9, 2021, subject to customary conditions. This IPO is pivotal as Lucira develops innovative infectious disease test kits that deliver accurate results in user-friendly formats.

Positive

• Upsized IPO of 9 million shares priced at $17 each, raising $153 million before fees.
• 30-day option for underwriters to purchase an additional 1.35 million shares.
• Innovative testing platform offering rapid molecular test results for infectious diseases.

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• None.

Lucira Health, Inc. (“Lucira Health” or “Lucira”), a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits, today announced the pricing of its upsized initial public offering of 9,000,000 shares of common stock at a price to the public of $17.00 per share. The gross proceeds to Lucira from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $153.0 million. In addition, Lucira has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock, at the initial public offering price less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “LHDX” on February 5, 2021. The offering is expected to close on February 9, 2021, subject to satisfaction of customary closing conditions.

BofA Securities and William Blair are acting as lead bookrunning managers and LifeSci Capital is acting as co-manager for the offering.

The offering is being made only by means of a prospectus. When available, a copy of the final prospectus may be obtained from: BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by telephone at (800) 294-1322, or by email at dg.prospectus_requests@bofa.com, or William Blair, Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at (800) 621-0687 or email at prospectus@williamblair.com.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on February 4, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 Lucira Health

Lucira Health is a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits. Lucira has developed a testing platform that produces centralized-laboratory-accurate molecular testing in a single-use and consumer-friendly test kit that is powered by two AA batteries and fits in the palm of a hand. Lucira designed its test kits to provide accurate, reliable and on-the-spot molecular test results anywhere and at any time. The LUCIRA COVID-19 All-In-One Test Kit is designed to provide a clinically relevant COVID-19 result within 30 minutes from sample collection.

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FAQ

What are the details of Lucira Health's initial public offering (LHDX)?

Lucira Health's IPO involves 9 million shares priced at $17 each, aiming to raise $153 million. There's also an option for underwriters to buy an additional 1.35 million shares.

When will Lucira Health's shares start trading on the Nasdaq?

Lucira Health's shares are expected to begin trading on the Nasdaq under the ticker symbol LHDX on February 5, 2021.

When will Lucira Health's IPO close?

The closing of Lucira Health's IPO is expected to occur on February 9, 2021, pending customary closing conditions.

What is the purpose of Lucira Health's IPO?

The IPO is aimed at funding the development and commercialization of Lucira's innovative infectious disease test kits.