Procept BioRobotics’ $163.9 Million Initial Public Offering

Latham & Watkins represented PROCEPT in the transaction.

PROCEPT BioRobotics Corporation, a commercial-stage surgical robotics company focused on advancing patient care by developing transformative solutions in urology, announced the pricing of its upsized initial public offering of 6,556,000 shares of its common stock at a public offering price of US$25 per share, for total gross proceeds of US$163.9 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, PROCEPT granted the underwriters a 30-day option to purchase up to an additional 983,400 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

BofA Securities and Goldman Sachs & Co. LLC acted as joint lead bookrunning managers for the offering. Cowen, Guggenheim Securities and SVB Leerink acted as co-managers.

Latham & Watkins represented PROCEPT in the transaction with a corporate team led by Orange County partners Shayne Kennedy (Picture) and Drew Capurro with associates Jake Walsh and Molly Wolfe. Advice was also provided on executive compensation and benefits matters by Los Angeles partner Michelle Carpenter with associate Vanessa King; on tax matters by Century City partner Sam Weiner with associate Brian Rogers; on intellectual property matters by Bay Area associate Jekkie Kim; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang with associate Meryl Bartlett; and on data privacy matters by Bay Area counsel Heather Deixler.

Involved fees earner: Meryl Bartlett – Latham & Watkins; Drew Capurro – Latham & Watkins; Michelle Carpenter – Latham & Watkins; Heather Deixler – Latham & Watkins; Shayne Kennedy – Latham & Watkins; Jekkie Kim – Latham & Watkins; Vanessa King – Latham & Watkins; Betty Pang – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Brian Rogers – Latham & Watkins; Jacob Walsh – Latham & Watkins; Samuel Weiner – Latham & Watkins; Molly Wolfe – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Procept Biorobotics Corp.;

Author: Martina Bellini