Outset Medical (NSDQ:OM) announced that it closed a previously announced underwritten public offering with proceeds of approximately $149.7 million.
San Jose, Calif.–based Outset offered 2.9 million shares of common stock sold by the company itself, plus nearly 3.9 million shares of its common stock sold by certain stockholders at a public offering price of $53.50 per share, according to a news release.
Those 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.
Outset, which develops the Tablo hemodialysis system, did not receive any proceeds from the sale of shares of its common stock offered by the selling stockholders, leaving the company with $149.7 million in net proceeds.
Morgan 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.