Mobia Medical, Inc. (MOBI), on Friday announced that it has priced its initial public offering of 10 million common shares at $15.00 each.
The medical device company expects to raise gross proceeds of about $150.0 million from this offering.
All shares are being offered by Mobia Medical, which focuses on devices for stroke survivors with motor impairments.
Shares are expected to begin trading on the Nasdaq under the ticker "MOBI" on May 8.
The offering is expected to close on May 11.
Mobia Medical has also granted underwriters a 30-day option to buy up to an additional 1,500,000 common shares at the offering price.
BofA Securities, J.P. Morgan and Goldman Sachs & Co. LLC are acting as lead bookrunners for the offering. BTIG is acting as a passive bookrunner and Wolfe | Nomura Alliance is acting as a manager for the offering.
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