After raising $125 million for its commercialization efforts earlier this year, portable dialysis machine manufacturer Outset Medical is now going public with a $241.7 million Nasdaq IPO.
Trading under the ticker symbol "OM," the company priced 8.95 million of its shares at $27 apiece, upsizing its previous plans to offer 7.6 million shares between $22 and $24—a 38% boost overall, according to Renaissance Capital. The offering is set to close Sept. 17.
The former Fierce 15 winner’s Tablo hemodialysis system is designed to serve as a standalone unit. While traditional machines may require a connection to an outside source of clean water, the Tablo unit includes integrated water purification hardware, allowing it to run off of tap water and a basic electrical outlet.
Read More: https://www.fiercebiotech.com/medtech/portable-dialysis-device-maker-outset-medical-raises-242m-ipo
Via: Fierce Biotech