Inspire Medical Systems, which sells its proprietary Inspire therapy for sleep apnea, announced terms for its IPO on Monday.
The Maple Grove, MN-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $15 million worth of shares in the offering. At the midpoint of the proposed range, Inspire Medical Systems would command a fully diluted market value of $305 million and an enterprise value of $239 million.
Inspire Medical Systems was founded in 2007 and booked $29 million in sales for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol INSP. BofA Merrill Lynch and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of April 30, 2018.
