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Hemodialysis device maker Outset Medical prices upsized IPO above the range at $27

September 15, 2020
OM

Outset Medical, which provides a hemodialysis system for kidney diseases, raised $242 million by offering 9 million shares at $27, well above the range of $22 to $24. The company offered 1.4 million more shares than anticipated. At pricing, the company raised 38% more in proceeds than expected.

Outset Medical plans to list on the Nasdaq under the symbol OM. BofA Securities, Morgan Stanley, Goldman Sachs, SVB Leerink and Stifel acted as lead managers on the deal.