San Francisco-based iRhythm Technologies Inc, a digital health care solutions provider focused on cardiac care, has debuted its IPO after pricing its over 6.29 million shares at $17 per share. The stock began trading on the NASDAQ on October 20, 2016 under the ticker symbol “IRTC.” J.P. Morgan and Morgan Stanley are serving as the lead underwriters. iRhythm’s backers included Novo A/S and Norwest Venture Partners.
SAN FRANCISCO, Oct. 19, 2016 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc., a leading digital health care solutions company focused on the advancement of cardiac care, today announced the pricing of its initial public offering of 6,294,118 shares of its common stock at a public offering price of $17.00 per share, before underwriting discounts. In addition, iRhythm has granted the underwriters a 30-day option to purchase up to an additional 944,117 shares of common stock at the same price solely to cover over-allotments, if any. The company’s shares are expected to begin trading on NASDAQ on October 20, 2016 under the ticker symbol “IRTC.”
The offering is expected to close on October 25, 2016, subject to satisfaction of customary closing conditions.
J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Canaccord Genuity and BTIG are acting as co-managers.
A registration statement relating to the securities being sold in this offering has been filed with, and was subsequently declared effective by, the Securities and Exchange Commission on October 19, 2016. The offering of these securities will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204, or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
About iRhythm Technologies, Inc.
iRhythm is a commercial-stage digital health care company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change clinical management of patients. The company’s platform, the Zio Service, has been provided to over 500,000 patients, accumulating more than 125 million hours of curated heartbeat data within iRhythm’s data repository.