Miromatrix Medical Announces Closing of Initial Public Offering

Rhea-AI Summary

Miromatrix Medical Inc. (Nasdaq: MIRO) announced the closing of its initial public offering (IPO) on June 28, 2021, selling 5,520,000 shares at $9.00 each, including an additional 720,000 shares purchased by underwriters. The company raised approximately $49.7 million in gross proceeds, aimed at advancing its innovative technology for bioengineering transplantable human organs, focusing on livers and kidneys. This offering was facilitated by Craig-Hallum Capital Group as the managing underwriter.

Positive

• Raised approximately $49.7 million in gross proceeds to advance bioengineering technology.
• Focused on addressing the shortage of human organs with proprietary technology.

Negative

• Potential dilution of shares due to the IPO.
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EDEN PRAIRIE, Minn., June 28, 2021 (GLOBE NEWSWIRE) -- Miromatrix Medical Inc. (Nasdaq: MIRO) ("Miromatrix"), a life sciences company pioneering a novel technology for bioengineering fully transplantable human organs to help save and improve patients' lives, today announced the closing of its initial public offering of 5,520,000 shares of common stock, including the full exercise by the underwriter of its option to purchase 720,000 shares at a price to the public of $9.00 per share. The common stock is listed for trading on The Nasdaq Capital Market under the ticker symbol "MIRO."

Miromatrix received gross proceeds of approximately $49.7 million, before deducting underwriting discounts and commissions.

Craig-Hallum Capital Group acted as sole managing underwriter for the offering.

A registration statement on Form S-1 relating to the shares being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on June 23, 2021. This offering was made only by means of a prospectus, copies of which may be obtained from: Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by telephone at (612) 334-6300 or by email at prospectus@chlm.com.

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 Miromatrix Medical

Miromatrix Medical Inc. (Nasdaq: MIRO), is a life sciences company pioneering a novel technology for bioengineering fully transplantable human organs to help save and improve patients' lives. The Company has developed a proprietary perfusion technology platform for bioengineering organs that it believes will efficiently scale to address the shortage of available human organs. The Company's initial development focus is on human livers and kidneys.

Investor Contact
Greg Chodaczek
347-620-7010 
ir@miromatrix.com

FAQ

What is the stock symbol for Miromatrix Medical?

The stock symbol for Miromatrix Medical Inc. is MIRO.

How much money did Miromatrix raise during its IPO?

Miromatrix raised approximately $49.7 million in its initial public offering.

What was the offering price per share for Miromatrix's IPO?

The offering price per share for Miromatrix's IPO was $9.00.

Who was the underwriter for Miromatrix's IPO?

Craig-Hallum Capital Group acted as the sole managing underwriter for Miromatrix's IPO.

What is the primary focus of Miromatrix Medical?

Miromatrix Medical focuses on bioengineering fully transplantable human organs, initially targeting livers and kidneys.