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Outset Medical prices upsized IPO above range at $27

September 15, 2020

Outset Medical (OM) has priced its upsized IPO of 8,951,111 common shares at $27.00/share, for total gross proceeds of ~$241.7M.

The Company previously planned to offer 7.6M shares in the range of $22-24.

Underwriters’ over-allotment is an additional 1,342,666 shares.

Trading kicks off on September 15. Closing date is Sept. 17.

BofA Securities, Morgan Stanley, Goldman Sachs, SVB Leerink and Stifel are acting as joint book-runners.

The company has developed a novel portable dialysis system called Tablo that requires only an electrical outlet and tap water to operate. The integration of water purification and on-demand dialysate production enables Tablo to serve as a dialysis clinic on wheels and allows providers to standardize to a single technology platform from the hospital to the home.

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