Outset Medical (NSDQ:OM) announced today that it priced an underwritten public offering of shares of its common stock.
San Jose, Calif.–based Outset — maker of the Tablo hemodialysis system — is offering 2.5 million shares of common stock sold by the company itself, plus more than 3.4 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.
Additionally, Outset and the selling stockholders granted the underwriters a 30-day option to purchase up to an additional 891,728 shares of its common stock at the public offering price.
Should all shares being offered, including those granted in the 30-day option, be purchased, Outset could collect approximately $365.8 million before discounts, commissions and fees associated with the offering.
Underwriting discounts and commissions will be borne by Outset regarding the shares it sells and those sold by the selling stockholders. The offering is expected to close on April 13, 2021.
Morgan Stanley, BofA Securities and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering. Stifel and Cowen are acting as co-managers for the offering.
Also today, Outset Medical announced that the U.S. Department of Health and Human Services and the American Society of Nephrology have named the Tablo system as one of seven winners in Round 2 of the KidneyX COVID-19 Kidney Care Challenge.