Gilde Healthcare portfolio company CVRx Inc., a commercial-stage medical device company focused on innovative and minimally invasive neuromodulation solutions for patients with cardiovascular diseases, announced on Tuesday, June 29, 2021 the upsize and pricing of its initial public offering of 7,000,000 shares of its common stock at a public offering price of $18.00 per share.
In connection with the offering, CVRx has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares began trading on the Nasdaq Global Select Market on June 30, 2021 under the ticker symbol “CVRX.” The gross proceeds from the offering, before deducting the underwriting discount and other offering expenses payable by CVRx, are expected to be approximately $126.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The closing of the offering is expected to occur on July 2, 2021, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Piper Sandler and William Blair acted as joint book-running managers and as representatives of the underwriters for the offering. Canaccord Genuity acted as a lead manager for the offering.
About CVRx, Inc.
Headquartered in Minneapolis, MN, CVRx is a leader in innovative medical technologies that address the unmet needs in cardiovascular diseases with safe and effective therapies that harness and harmonize the body’s natural systems. CVRx is dedicated to improving patient outcomes, quality of life, and overall cardiovascular health via novel baroreceptor neuromodulation therapies. Please visit the company’s website at www.cvrx.com.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion across two fund strategies: Venture & Growth and Private Equity. The Venture & Growth fund invests in medtech, healthtech and therapeutics in Europe and North America. Please visit the company’s website at www.gildehealthcare.com.
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