CapsoVision, which makes a capsule endoscope system for diagnostic and screening applications, raised $28 million by offering 5.5 million shares at $5.00, the low end of the range of $5.00 to $5.50. The company offered 0.3 million more shares than anticipated. Existing shareholders and new investors had indicated on $19 million worth of shares in the offering (71% of the deal).
CapsoVision develops advanced imaging and AI technologies that are deployed in its capsule endoscopy solutions to identify abnormalities of the gastrointestinal tract for diagnostic and screening purposes. The company developed its first capsule endoscope system, currently comprising the CapsoCam Plus single-use capsule and the CapsoCloud and CapsoView software, to panoramically visualize the small-bowel mucosa to investigate abnormalities such as obscure GI bleeding and Crohn's disease. CapsoVision is in the process of updating CapsoCam Plus to add its self-developed AI assisted reading technology and targeting related FDA 510(k) clearance of the updated capsule for late 2025, with commercialization shortly thereafter. Its AI assisted reading tools detect and highlight suspected abnormalities for a clinician.
CapsoVision plans to list on the Nasdaq under the symbol CV. The Benchmark Company and Roth Capital acted as joint bookrunners on the deal.
