Inari Medical Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Inari Medical, Inc. (NASDAQ: NARI) announced the successful closing of its initial public offering of 9,432,949 shares, with the underwriters exercising their option to purchase an additional 1,230,384 shares. The shares were priced at $19.00 each, yielding approximately $179.2 million in gross proceeds before expenses. The SEC declared the registration statement effective on May 21, 2020. Inari specializes in developing medical devices for treating venous diseases, particularly through its FDA-cleared ClotTriever and FlowTriever systems.
- Raised approximately $179.2 million in gross proceeds from the IPO.
- Successfully executed the underwriters' option for additional share purchases, indicating strong demand.
- None.
IRVINE, Calif., May 27, 2020 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) (“Inari”), a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases, today announced the closing of its initial public offering of 9,432,949 shares of its common stock, including the exercise in full of the underwriters’ option to purchase 1,230,384 additional shares of common stock, at the initial public offering price of
BofA Securities and Morgan Stanley acted as joint lead bookrunning managers for the offering. Wells Fargo Securities and Canaccord Genuity acted as co-managers.
The shares were offered by Inari pursuant to a registration statement that was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on May 21, 2020. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.
The offering was made only by means of a prospectus, copies of which may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; and from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at prospectus@morganstanley.com.
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 other 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 other jurisdiction.
About Inari Medical, Inc.
Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.
Inari is focused on treating venous thromboembolism and improving the quality of life of patients suffering from this disease by safely and effectively removing blood clots. Inari has developed two minimally-invasive, novel catheter-based mechanical thrombectomy devices that are designed to remove large clots from large vessels and eliminate the need for thrombolytic drugs. The ClotTriever system is 510(k)-cleared by the FDA for thrombectomy in the peripheral vessels and is used to treat patients suffering from deep vein thrombosis. The FlowTriever system is 510(k)-cleared by the FDA for the treatment of pulmonary embolism.
Investor Contact:
Westwicke Partners
Caroline Corner
Phone +1-415-202-5678
caroline.corner@westwicke.com
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