Obalon Prices $75 Million IPO for Ingestible Weight Loss Balloon
SAN DIEGO, Oct. 05, 2016 (GLOBE NEWSWIRE) -- Obalon Therapeutics, Inc., a commercial-stage medical device company focused on developing and commercializing innovative medical devices to treat obese and overweight people by facilitating weight loss, today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a price to the public of $15.00 per share. The shares are expected to begin trading on The NASDAQ Global Market on October 6, 2016 under the symbol “OBLN.” In addition, the underwriters have been granted a 30-day option to purchase up to an additional 750,000 shares of common stock.
UBS Investment Bank, Canaccord Genuity and Stifel are acting as joint book-running managers for the offering. BTIG is acting as a co-manager.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on October 5, 2016. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to the offering, when available, may be obtained from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by telephone at (888) 827-7275; Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110 or by telephone at (617) 371-3900 or by e-mail at prospectus@canaccordgenuity.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104 or by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contact: William Plovanic, CFO Obalon Therapeutics, Inc. Office 760.607.5103 wplovanic@obalon.com Megan Driscoll, CEO evolveMKD Office 646.517.1565 mdriscoll@evolveMKD.com