
Our sibling site Drug Delivery Business News reported the news today, which is Beta Bionics’ first day of trading.
Earlier this month, the company filed a registration statement with the SEC relating to a proposed IPO. Beta Bionics, maker of the iLet bionic pancreas, later filed a prospectus outlining its aim to bring in $114.4 million in the IPO.
The Irvine, California-based company today said it formally went public with its IPO. It upsized the pricing to 12 million shares of common stock at $17 per share, collecting gross proceeds of $204 million. Underwriters also have a 30-day option to purchase up to an additional 1.8 million hares of common stock. That includes 475,000 of the company’s shares and 1.325 million shares belonging to selling stockholders. The company receives no proceeds from the sale of shares sold by the stockholders.
With the IPO, Beta Bionics today began trading on the Nasdaq market under the “BBNX” ticker. The company expects the offering to officially close tomorrow, Jan. 31, 2025.