Sunnyvale, California–based Ceribell is offering more than 10.6 million shares of its common stock in the IPO. It priced the shares at $17 apiece.
In connection with the IPO, Ceribell granted underwriters a 30-day option to purchase up to an additional 1.59 million shares of common stock at the initial public offering price. The company expects shares to begin trading on the Nasdaq market today, Oct. 11, under the “CBLL” ticker.
Gross proceeds of $180.3 million exclude the exercise of the underwriters’ option to purchase additional shares. Ceribell expects to close the IPO on Oct. 15, 2024, subject to customary closing conditions.
BofA Securities and J.P. Morgan serve as joint book-running managers and as representatives of the underwriters for the offering. William Blair, TD Cowen and Canaccord Genuity serve as co-managers for the offering.
Ceribell, a commercial-stage medical technology company, focuses on transforming the diagnosis and management of patients with serious neurological conditions. It develops the Ceribell System, an AI-powered, rapidly deployable point-of-care electroencephalography (EEG) platform.
The company wants its platform to address the unmet needs of patients in the acute care setting. Its EEG system features a disposable headband and mobile recorder. It could provide the rapid diagnosis of patients with suspicion of seizure. The system could quickly deliver actionable results that empower frontline clinicians to make real-time decisions and optimize treatment for critically ill patients.
