Inari Medical’s $156 Million Initial Public Offering

Latham & Watkins LLP advised Inari Medical, while Shearman & Sterling advised the underwriters on the deal.

Inari Medical, Inc. has announced the pricing of its upsized initial public offering of 8,202,565 shares of its common stock at a public offering price of US$19.00 per share, for total gross proceeds of approximately US$156 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares are being offered and sold by Inari. In addition, Inari has granted the underwriters a 30-day option to purchase up to an additional 1,230,384 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Inari’s common stock began trading on the Nasdaq Global Select Market on May 22, 2020 under the symbol “NARI.”

BofA Securities and Morgan Stanley acted as joint book-running managers for the offering and Wells Fargo Securities and Canaccord Genuity acted as co-managers.

Inari Medical is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.

Latham & Watkins LLP represented Inari Medical, Inc. in the initial public offering with a capital markets team led by Orange County partner Shayne Kennedy (Picture) and New York partner Nathan Ajiashvili, with Orange County associates Ross McAloon, Eric Hanzich, and Jacob Walsh. Advice was also provided on benefits and compensation matters by Los Angeles partner Michelle Carpenter, with Orange County associates Sara Schlau and Gabrielle Masse; on tax matters by Los Angeles partner Samuel Weiner, with Orange County associate Janet Hsu; on intellectual property matters by Bay Area partner Judith Hasko, with San Diego associate Robert Yeh; and on regulatory matters by Washington, D.C. partner Elizabeth Richards and Brussels partner Hector Armengod, with Bay Area counsel Betty Pang, Washington, D.C. counsel Nicole Liffrig Molife, Washington, D.C. associate Chad Jennings and New York associate Heath Ingram.

The Shearman & Sterling team acting for the underwriters included Ilir Mujalovic, Doreen E. Lilienfeld, Kristen Garry, Jordan Altman, Russell Sacks, Jennifer D. Morton, Minkyu Park, Charles Zamiskie, Y. Jingjing Liang, Joshua Savey, Jb Betker, Jenny Ding Jordan, P. Sean Kelly, Taylor Pugliese, Nauka Patel, Sonia Khandekar, and Maeve Wilson.

Involved fees earner: Nathan Ajiashvili – Latham & Watkins; Héctor Armengod – Latham & Watkins; Michelle Carpenter – Latham & Watkins; Eric Hanzich – Latham & Watkins; Judith Hasko – Latham & Watkins; Janet Hsu – Latham & Watkins; Chad Jennings – Latham & Watkins; Shayne Kennedy – Latham & Watkins; Nicole Liffrig Molife – Latham & Watkins; Gabrielle Masse – Latham & Watkins; Ross McAloon – Latham & Watkins; Betty Pang – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Heath Roosevelt Ingram – Latham & Watkins; Sara Schlau – Latham & Watkins; Jacob Walsh – Latham & Watkins; Samuel Weiner – Latham & Watkins; Robert Yeh – Latham & Watkins; Jordan Altman – Shearman & Sterling; JB Betker – Shearman & Sterling; Jenny Ding Jordan – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Sean Kelly – Shearman & Sterling; Jingjing Liang – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Ilir Mujalovic – Shearman & Sterling; Minkyu Park – Shearman & Sterling; Taylor Pugliese – Shearman & Sterling; Russell Sacks – Shearman & Sterling; Joshua Savey – Shearman & Sterling; Charles Zamiskie – Shearman & Sterling;

Law Firms: Latham & Watkins; Shearman & Sterling;

Clients: Bank of America Securities; Canaccord Genuity; Inari Medical; Morgan Stanley; Wells Fargo Securities;

Author: Ambrogio Visconti