Inspire Medical Systems Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Inspire Medical Systems (NYSE:INSP) a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea, announced today the closing of its initial public offering of 7,762,500 shares of its common stock at a public offering price of $16.00 per share, which includes the exercise … Continued
Inspire Medical Systems (NYSE:INSP) a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea, announced today the closing of its initial public offering of 7,762,500 shares of its common stock at a public offering price of $16.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,012,500 additional shares.
As quoted in the press release:
The gross proceeds from the offering are $124.2 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock were offered by Inspire. The shares began trading on the New York Stock Exchange on May 3, 2018 under the ticker symbol “INSP.”
BofA Merrill Lynch and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. Guggenheim Securities, Stifel and Wells Fargo Securities acted as co-managers for the offering.