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Outset Medical Announces Closing of Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
SAN JOSE, Calif.--(BUSINESS WIRE)-- Outset Medical, Inc. (Nasdaq: OM) (“Outset”), a medical technology company pioneering a first-of-its-kind technology to
About this update from Outset Medical, Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nOutset Medical, Inc. (Nasdaq: OM) (“Outset”), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, announced today the closing of its previously announced underwritten public offering of 2,945,864 shares of its common stock sold by Outset and 3,890,723 shares of its common stock sold by certain of its stockholders at a public offering price of $53.50 per share, which amounts include 891,728 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares at the public offering price, less the underwriting discounts and commissions. The underwriting discounts and commissions were borne by Outset with respect to the shares it sold in the offering and by the selling stockholders with respect to the shares they sold in the offering. The net proceeds to Outset were approximately $149.7 million, after deducting the underwriting discounts and commissions and before expenses. Outset did not receive any proceeds from the sale of shares of its common stock offered by the selling stockholders. \n\nMorgan Stanley, BofA Securities and Goldman Sachs & Co. LLC acted as joint lead book-running managers for the offering. Stifel and Cowen acted as co-managers for the offering.\n\nA registration statement on Form S-1 relating to the shares sold in this offering was filed with and declared effective by the U.S. Securities and Exchange Commission.\n\nThe offering was made only by means of a prospectus. The final prospectus has been filed with the Securities and Exchange Commission, and a copy of the final prospectus may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at [email protected]; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected].\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in an...