Inari Medical Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additi...
May 27 2020 - 12:48PM
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
$19.00 per share. The gross proceeds to Inari, before deducting
underwriting discounts and commissions and offering expenses, were
approximately $179.2 million. Inari’s common stock is listed
on the Nasdaq Global Select Market under the symbol "NARI."
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 PartnersCaroline
CornerPhone +1-415-202-5678 caroline.corner@westwicke.com
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