Davion Healthcare, which develops at-home testing kits for tissue growths, blood flow, and other areas, raised the reference price for its direct listing on the Nasdaq. The shares of common stock will be listed by existing shareholders; Davion Healthcare will not raise new capital in its listing. The company did not disclose an anticipated timing of its listing.
The Registered Stockholders now plan to sell up to 25 million shares at a reference price of $12. The company previously filed to register the same amount of shares at a $10 reference price. At a $12 reference price, the company would command a market cap of $300 million.
Davion Healthcare develops and licenses non-invasive home tests, including FDA-registered BreastCheck and FootFlow, which employ cholesteric liquid crystal film to map 32°C to 38°C skin temperature variations in 10 to 15 minutes for early detection of breast tissue anomalies and diabetic circulation issues. It uses a licensing-driven model to grant manufacturing, marketing, sales and distribution rights to regional partners across the US, EU, and UK, supports a pipeline of four thermography-based assays, and delivers AI-assisted results via a mobile application.
The Cork, Ireland-based company was founded in 2022 and plans to list on the Nasdaq under the symbol DAVI. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead Revere Securities will serve as a financial advisor.
