Motus GI today priced its upcoming initial public offering, dropping the range from a midpoint of $26 million to a total of $18 million.
In the offering, the Fort Lauderdale, Fla.-based company said it will offer 3.5 million shares of common stock at $5 per share, with its shares slated to begin trading on Nasdaq today under the ticker symbol “MOTS”.
The company developed and produces the Pure-Vu cleaning system which is designed to be used with a standard colonoscope to perform intra-procedural cleaning of poorly prepared colons.
Piper Jaffray & Co. is acting as sole book-running manager with Oppenheimer & Co. acting as lead manager for the offering, the company said in a press release.
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