Mobia Medical, which sells a nerve stimulation device for chronic ischemic stroke, announced terms for its IPO on Monday.
The Austin, TX-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16.
Mobia's Vivistim Paired Vagus Nerve Stimulation System is the first and only clinically-validated, FDA-approved solution for chronic ischemic stroke survivors with moderate to severe upper extremity impairments. The system includes an implanted pulse generator and lead that deliver stimulation during functional movement in order to increase neuroplasticity and durably restore motor function. Management estimates that there are over four million chronic ischemic stroke survivors, of which one million have the health, cognition, and motivation to participate in post-stroke therapy, representing a $30 billion opportunity based on the system's price.
Mobia Medical was founded in 2007 and booked $32 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol MOBI. BofA Securities, J.P. Morgan, and Goldman Sachs are the joint bookrunners on the deal. It is expected to price the week of May 4, 2026.
