Inspire Medical Systems, Inc.’s $124.2 Million Initial Public Offering


Shearman & Sterling advised the underwriters of Inspire Medical Systems, Inc.’s initial public offering of 7,762,500 shares of common stock (including 1,012,500 shares purchased by the underwriters pursuant to their option to purchase additional shares) at a public offering price of $16.00 per share, resulting in gross proceeds to the company of approximately $124.2 million.

The shares began trading on The New York Stock Exchange under the ticker symbol “INSP” on May 3, 2018.

BofA Merrill Lynch and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering and Guggenheim Securities, Stifel, and Wells Fargo Securities acted as co-managers.

Inspire Medical Systems, Inc. is a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea. The company’s proprietary Inspire system is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

Shearman & Sterling advised with a team including Ilir Mujalovic (Picture), Rupa Briggs, Philip Dear, Harald Halbhuber, Doreen Lilienfeld, Kristen Garry, Jordan Altman, Jennifer D. Morton, Mehran Massih, Matthew Behrens, Eric Grosshandler, Marc Elzweig, Benjamin Petersen, Jenny Ding Jordan and P. Sean Kelly.

Involved fees earner: Ilir Mujalovic – Shearman & Sterling; Rupa Briggs – Shearman & Sterling; Philip Dear – Shearman & Sterling; Harald Halbhuber – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Matthew Behrens – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Jordan Altman – Shearman & Sterling; Marc Elzweig – Shearman & Sterling; Benjamin Petersen – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Jenny Ding Jordan – Shearman & Sterling; Sean Kelly – Shearman & Sterling; Mehran Massih – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Merrill Lynch; Goldman, Sachs & Co.; Stifel Financial Corp.; Wells Fargo Securities; Guggenheim Securities;

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Author: Ambrogio Visconti