Acutus Medical launches IPO on Nasdaq

Cardiac mapping technology developer Acutus Medical announced that it priced its initial public offering on the Nasdaq market.
The Carlsbad, Calif.-based company is offering 8,823,529 shares of its common stock at $18 per share, with gross proceeds expected to come in at approximately $158.8 million.
Acutus Medical’s shares are expected to begin trading today (Aug.6, 2020) under the ticker “AFIB,” while the company anticipates that the offering while close on Aug. 10, according to a news release.
In addition to the offering, Acutus granted the underwriters a 30-day option to purchase up to more than 1.3 million additional shares of common stock at the initial offering price.
J.P. Morgan and BofA Securities are acting as joint book-running managers for the offering. William Blair is also acting as book-running manager. Canaccord Genuity and BTIG are acting as co-managers.
Acutus’ AcQMap and its 3D mapping catheter won 510(k) clearance from the FDA in October 2017; expanded CE Mark approval in the European Union and FDA clearance in the U.S. for the second-gen AcQMap followed just last April. Along with its AcQMap tech to aid in ablation treatment of arrhythmias, Acutus makes a line of vascular access products.
The company closed a $170 million Series D in June 2019 and, in May, announced a deal with Biotronik to collaborate on electrophysiology, mapping, ablation and accessory products across certain markets.
Original Article: (https://www.massdevice.com/acutus-medical-launches-ipo-on-nasdaq/)