Inari Medical Launches Initial Public Offering - May 18, 2020
IRVINE, Calif., May 18, 2020 /PRNewswire/ -- Inari Medical, Inc. ("Inari"), a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases, today announced that it has launched the roadshow for its initial public offering of shares of its common stock. Inari is offering 7,333,000 shares of its common stock. In addition, Inari expects to grant the underwriters a 30-day option to purchase up to an additional 1,099,950 shares of its common stock. The initial public offering price is expected to be between $14.00 and $16.00 per share. The shares are expected to trade on the Nasdaq Global Market under the symbol "NARI."
BofA Securities and Morgan Stanley are acting as joint lead bookrunning managers for the proposed offering. Wells Fargo Securities and Canaccord Genuity are acting as co-managers.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; and from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at prospectus@morganstanley.com.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
About Inari Medical, Inc.
Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases. Inari is focused on treating venous thromboembolism and improving the quality of life of patients suffering from this disease by safely and effectively removing blood clots. Inari has developed two minimally-invasive, novel catheter-based mechanical thrombectomy devices that are designed to remove large clots from large vessels and eliminate the need for thrombolytic drugs. The ClotTriever system is 510(k)-cleared by the FDA for thrombectomy in the peripheral vessels and is used to treat patients suffering from deep vein thrombosis. The FlowTriever system is 510(k)-cleared by the FDA for the treatment of pulmonary embolism.
Forward Looking Statements
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms and other similar expressions, and include, without limitation, statements regarding Inari's expectations regarding the commencement of trading of its shares on the Nasdaq Global Market, the size and timing of the offering. Forward-looking statements are based on Inari's current expectations and assumptions and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Important factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to, and the completion of, the proposed initial public offering. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the prospectus related to the proposed initial public offering to be filed with the U.S. Securities and Exchange Commission. Forward-looking statements contained in this announcement are made only as of the date of this release, and Inari undertakes no obligation to update such information except as required under applicable law.
Investor Contact:
Westwicke Partners
Caroline Corner
Phone +1-415-202-5678
caroline.corner@westwicke.com
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SOURCE Inari Medical
Company Codes: NASDAQ-NMS:NARI