Pulmonx Corp. Sets IPO at 6.67 Million Shares; Sees Pricing at $14-$16 Each
September 24 2020 - 7:08AM
Dow Jones News
By Colin Kellaher
Pulmonx Corp. on Thursday said it expects to sell 6.67 million
shares at between $14 and $16 each in its initial public
offering.
At the $15 midpoint of that range, the Redwood City, Calif.,
medical-technology company said it expects net proceeds of about
$88 million, or roughly $102 million if the underwriters exercise
an option to buy an additional one million shares.
Pulmonx, which provides a minimally invasive treatment for
patients with severe emphysema, said it will use the proceeds to
hire additional sales and marketing personnel and to fund product
development and research-and-development activities.
Boston Scientific Corp. currently owns a 30.1% stake in Pulmonx,
which has applied to list its shares on the Nasdaq Global Select
Market under the symbol LUNG.
In a filing with the U.S. Securities and Exchange Commission,
Pulmonx said it would have about 31.7 million shares outstanding
after the IPO, assuming exercise of the overallotment option, for a
valuation of about $476 million at the $15-a-share midpoint.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 24, 2020 06:53 ET (10:53 GMT)
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