Outset Medical’s $241.7 Million Initial Public Offering

Latham & Watkins LLP represented the underwriters in the offering.

Outset Medical has announced the pricing of its upsized initial public offering of 8,951,111 shares of its common stock at a public offering price of US$27.00 per share, for total gross proceeds of approximately US$241.7 million, before deducting underwriting discounts and commissions and offering expenses. The shares are expected to begin trading on The Nasdaq Global Select Market on September 15, 2020, under the symbol “OM.” The offering is expected to close on September 17, 2020, subject to the satisfaction of customary closing conditions. In addition, Outset has granted the underwriters a 30-day option to purchase up to an additional 1,342,666 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

BofA Securities, Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering. SVB Leerink and Stifel are acting as co-managers for the offering.

Outset Medical is a pioneering medical technology company reimagining dialysis for patients and providers, from the ICU to the living room.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili (Picture) and Bay Area partner Brian Cuneo, with New York associates Salvatore Vanchieri, Jessica Lim and Darby Dietrich.

Involved fees earner: Nathan Ajiashvili – Latham & Watkins; Brian Cuneo – Latham & Watkins; Darby Dietrich – Latham & Watkins; Jessica Lim – Latham & Watkins; Salvatore Vanchieri – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Bank of America Securities; Goldman Sachs & Co.; Morgan Stanley; Stifel, Nicolaus & Company, Incorporated; SVB Leerink LLC;

Author: Ambrogio Visconti