TransMedics (NSDQ:TMDX) yesterday closed an initial public offering that, including a fully subscribed over-allotment, grossed nearly $105 million.
Andover, Mass.-based TransMedics developed a transportation system for organ transplants that’s designed to keep donated hearts, lungs and livers in near-living condition until transplantation. A year ago it won pre-market approval from the FDA for its OCS Lung transplant device for standard double-lung transplantation procedures; in Europe, the OCS Heart and OCS Lung devices are already on the market.
Last week the company floated nearly 5.7 million shares at $16 each, for gross proceeds of $91.0 million. The IPO included an underwriters option for another 854,000 shares, which was exercised in full, for gross proceeds of $104.7 million, TransMedics said.
Morgan Stanley and J.P. Morgan were joint book-runners on the deal, with Cowen and Canaccord Genuity as co-managers.
TMDX shares, which closed up 10.5% yesterday at $27.41 apiece, were up another 6.9% to $26.50 each today in pre-market trading.
