Shockwave Medical, Inc. has moved for the pricing of its public offering to use the proceeds for its cash purposes. Shockwave Medical has announced the pricing of 1.7 million shares on its common stock at the rate of $45.75 per share. All of the shares offered in the public offering are on the behalf of Shockwave. The company expects the total approximately $77.8 million as gross proceeds to be attained via the offering. These gross proceeds are pre-deduction state of underwriting discounts and with considering commissions and other offering expenses that Shockwave will have to pay.
The company will close the offering on June 19, 2020, subject to the terms of customary closing conditions. The underwriters for the offering also include a 30-day option to purchase up to an 255,000 shares of company’s common stock at the price to the public after the deduction of the underwriting discounts and commissions. The company’s common stock used to be traded on the Nasdaq stock exchange under the ticker symbol “SWAV.” Shockwave Medical, Inc. has communicated the work of joint lead book-running managers for the public offering to Morgan Stanley and BofA Securities. Wells Fargo Securities is responsible for role of lead manager for the public offering. While Canaccord Genuity will do its work as a financial advisor on to the company on this offering.
Shockwave Medical is the healthcare company engaged in developing and commercializing products proposed to transform the way of treatment of calcified cardiovascular disease.
Shockwave Medical (SWAV) stock has a trading value of $47.03 a share as of Wednesday trade on Nasdaq stock exchange. Its Market Cap has doubled to $1.48 billion in last three months
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