Kestra Medical Technologies closed an upsized IPO, raising approximately $202 million by offering 11.8 million shares at $17 each.
Quiver AI Summary
Kestra Medical Technologies, Ltd. announced the closing of its upsized initial public offering, raising approximately $202 million by offering 11,882,352 common shares at $17.00 each. The shares began trading on the Nasdaq Global Select Market under the ticker symbol "KMTS" on March 6, 2025. The offering was managed by lead bookrunners BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler, with additional support from Wells Fargo Securities and Stifel. The registration statement for the offering was filed with the SEC and became effective on March 5, 2025. Kestra, focused on improving patient outcomes in cardiovascular disease through innovative wearable medical devices, issued this offering solely by means of a prospectus.
Potential Positives
- Kestra successfully closed its upsized initial public offering, raising approximately $202 million, which provides significant capital for business growth and expansion.
- The company's common shares began trading on the Nasdaq Global Select Market, enhancing its visibility and credibility in the financial markets.
- The involvement of reputable underwriters like BofA Securities and Goldman Sachs adds credibility to Kestra's offering and may attract further investor interest.
Potential Negatives
- The press release indicates an upsized IPO, which may suggest high market demand but could also reflect the company's need for more capital, raising concerns about financial stability or initial profitability.
- All shares were offered by Kestra, which means the company may not have retained any shares for itself, potentially affecting its future financial positioning and investment in growth.
- No mention of how the proceeds from the IPO will be allocated, leaving uncertainty about the company's strategic direction and use of funds.
FAQ
What is Kestra Medical Technologies' initial public offering?
Kestra Medical Technologies conducted an upsized initial public offering of 11,882,352 common shares at $17.00 per share.
When did Kestra's shares begin trading on Nasdaq?
Kestra's common shares began trading on the Nasdaq Global Select Market on March 6, 2025, under the ticker symbol "KMTS".
How much did Kestra raise from the IPO?
The total gross proceeds from Kestra's initial public offering were approximately $202 million before expenses.
Who were the underwriters for Kestra's IPO?
BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler acted as lead bookrunners for the offering.
Where can I obtain the prospectus for Kestra's IPO?
Copies of the prospectus can be obtained from BofA Securities, Goldman Sachs, or Piper Sandler via email or phone.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
KIRKLAND, Wash., March 07, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (Nasdaq: KMTS) (“Kestra”), a wearable medical device and digital healthcare company, announced today the closing of its upsized initial public offering of 11,882,352 common shares at a public offering price of $17.00 per share. The total gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kestra, were approximately $202 million. All of the common shares were offered by Kestra. Kestra’s common shares began trading on the Nasdaq Global Select Market on March 6, 2025, under the ticker symbol "KMTS".
BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler acted as lead bookrunners for the offering. Wells Fargo Securities and Stifel acted as bookrunners and Wolfe | Nomura Alliance acted as co-manager for the offering.
A registration statement relating to the common shares sold in this offering was filed with the Securities and Exchange Commission and became effective on March 5, 2025. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at [email protected]; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by facsimile at 212-902-9316, by email at [email protected], or by calling 1-866-471-2526; or Piper Sandler, by email at [email protected], or by calling (800) 747-3924.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kestra
Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected.
Disclaimer
“Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering.
INVESTOR CONTACT
Marissa Bych or Webb Campbell
Gilmartin Group LLC
[email protected]
MEDIA CONTACT
Rhiannon Pickus
Kestra Medical Technologies, Ltd.
[email protected]
