NeuroPace, Inc. Announces Pricing of Initial Public Offering

Rhea-AI Summary

NeuroPace, Inc. (Nasdaq: NPCE), a medical device company focused on epilepsy treatment, announced its initial public offering (IPO) of 6,000,000 shares at $17.00 each, totaling $102 million in gross proceeds. The IPO is expected to close on April 26, 2021. NeuroPace has also granted underwriters an option to purchase an additional 900,000 shares. Trading on Nasdaq is set to begin on April 22, 2021. J.P. Morgan and Morgan Stanley lead the offering, with registration statements already filed with the SEC.

Positive

• Initial public offering of 6,000,000 shares priced at $17.00 each, raising $102 million.
• Potential additional shares (900,000) can be purchased by underwriters, which may enhance liquidity.
• NeuroPace's unique RNS System addresses a significant medical need for drug-resistant epilepsy patients.

Negative

• IPO may lead to shareholder dilution if underwriters exercise their option for additional shares.

MOUNTAIN VIEW, Calif., April 21, 2021 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from epilepsy, today announced the pricing of its initial public offering of 6,000,000 shares of common stock at a public offering price of $17.00 per share. All shares of common stock are being offered by NeuroPace for total gross proceeds of $102 million, before deducting underwriting discounts and commissions and offering expenses. In addition, NeuroPace has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. NeuroPace’s common stock is expected to begin trading on the Nasdaq Global Select Market on April 22, 2021, under the ticker symbol “NPCE”. The offering is expected to close on April 26, 2021, subject to the satisfaction of customary closing conditions.

J.P. Morgan and Morgan Stanley are acting as joint lead book-running managers for the offering. Wells Fargo Securities and SVB Leerink are also acting as book-running managers for the offering.

Registration statements relating to the shares being sold in this offering have been filed with the Securities and Exchange Commission and declared effective. The offering is being made only by means of a prospectus. When available, a copy of the final prospectus may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, via telephone at +1 (866) 718-1649 or by email at prospectus@morganstanley.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 the registration or qualification under the securities laws of any such state or other jurisdiction.

About NeuroPace, Inc.
Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. This platform can drive a better standard of care for patients suffering from drug-resistant epilepsy and has the potential to offer a more personalized solution and improved outcomes to the large population of patients suffering from other brain disorders.

Investor Contact:
Gilmartin Group
Matt Bacso, CFA
investors@neuropace.com

FAQ

What is the share price for NeuroPace's IPO?

NeuroPace's initial public offering is priced at $17.00 per share.

When will NeuroPace start trading on Nasdaq?

NeuroPace's shares are expected to begin trading on Nasdaq on April 22, 2021.

How much capital is NeuroPace raising through its IPO?

The IPO is expected to raise approximately $102 million in gross proceeds.

What is the ticker symbol for NeuroPace?

NeuroPace's ticker symbol is NPCE.

What is the purpose of NeuroPace's IPO?

The IPO aims to provide capital for further development of its epilepsy treatment products.