Motus GI Holdings’ $18 Million Initial Public Offering


Lowenstein represented medical device company Motus GI Holdings, Inc., in an $18 million IPO involving the sale of 3.5 million shares priced at $5 per share. Shares started trading on February 14, 2018.

Piper Jaffray and Oppenheimer & Co. are underwriting the offering.

Motus specializes in colonoscopy-related medical technology designed to enhance procedural quality and cost-effectiveness. The company, led by Mark L Pomeranz and Andrew Taylor, is based in Tirat Carmel (Israel).

The company intends to invest the newly generated funds in commercializing its technology.

This IPO is notable for being one of just a few that occurred during a quiet week for IPOs, and it represents another in a series of IPOs that Lowenstein has handled in recent months. The deal highlights the firm’s strengths in serving emerging companies (including Israeli startups) and other clients in the life sciences sector.

The Lowenstein deal team included Steven M. Skolnick (Picture), Michael J. Lerner, Alan Wovsaniker, Meredith Prithviraj, Robert Bee, Rachel A. Shapiro, and Matthew Tippy.

Involved fees earner: Steven Skolnick – Lowenstein Sandler LLP; Alan Wovsaniker – Lowenstein Sandler LLP; Meredith Prithviraj – Lowenstein Sandler LLP; Robert Bee – Lowenstein Sandler LLP; Rachel Shapiro – Lowenstein Sandler LLP; Matthew Tippy – Lowenstein Sandler LLP; Michael Lerner – Lowenstein Sandler LLP; Michael Lerner – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: Motus GI Holdings Inc.;

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Author: Ambrogio Visconti