Inari Medical closes upsized initial public offering
IRVINE, CALIFORNIA – Inari Medical Inc. today announced the closing of its initial public offering on NASDAQ. Inari is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases. The gross proceeds to Inari from the offering were approximately $179.2 million, including full exercise of the underwriters’ option to purchase additional shares. Inari’s common stock commenced trading on the Nasdaq Global Select Market on Friday May 22, 2020, under the symbol "NARI."
Gilde Healthcare led the Series C financing of Inari in March 2018. “We are excited to be part of Inari’s journey and to see the extraordinary impact of its technology on patients,” said Geoff Pardo, General Partner at Gilde Healthcare who serves on the Board of Directors and who worked closely with management during the US commercial expansion, “Inari embodies what we, at Gilde Healthcare, strive to fund — top performing management teams innovating to provide improved care at affordable cost.”
BofA Securities and Morgan Stanley acted as joint lead bookrunning managers for the offering. Wells Fargo Securities and Canaccord Genuity acted as co-managers.
About Inari Medical, Inc.
Inari Medical, Inc. (NASDAQ: NARI) is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases. Inari is focused on treating venous thromboembolism and improving the quality of life of patients suffering from this disease by safely and effectively removing blood clots. Inari has developed two minimally-invasive, novel catheter-based mechanical thrombectomy devices that are designed to remove large clots from large vessels and eliminate the need for thrombolytic drugs. The ClotTriever system is 510(k)-cleared by the FDA for thrombectomy in the peripheral vessels and is used to treat patients suffering from deep vein thrombosis. The FlowTriever system is 510(k)-cleared by the FDA for the treatment of pulmonary embolism.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare's venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare's private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company's website at www.gildehealthcare.com.