Acutus Medical, which manufactures devices for electrophysiological mapping to treat arrhythmias, raised $159 million by offering 8.8 million shares at $18, the high end of the range of $16 to $18. The company offered 1.5 million more shares than anticipated. Certain existing shareholders indicated on $45 million of the IPO (28% of the deal). At pricing, the company commands a fully diluted market value of $509 million.
Acutus Medical plans to list on the Nasdaq under the symbol AFIB. J.P. Morgan, BofA Securities and William Blair acted as lead managers on the deal.
