Outset Medical’s $212 Million Secondary Public Offering

Latham & Watkins LLP represented the underwriters in the offering.

Outset Medical, Inc. (Outset) has announced the pricing of an underwritten public offering of 4 million shares of its common stock by certain of its stockholders at a public offering price of US$53 per share. In addition, such selling stockholders granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The underwriting discounts and commissions will be borne by the selling stockholders. Outset is not selling any shares and will not receive any of the proceeds from the sale of the shares of common stock being offered by the selling stockholders. The offering is expected to close on December 7, 2020, subject to the satisfaction of customary closing conditions.

BofA Securities, Inc., Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, SVB Leerink LLC, and Stifel, Nicolaus & Company, Incorporated acted as underwriters for the offering.

Outset Medical, Inc. is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Nathan Ajiashvili and Bay Area partner Brian Cuneo, with New York associates Salvatore Vanchieri, Jessi 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;

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Author: Ambrogio Visconti