San Diego-based Obalon Therapeutics, a developer of gastric balloon technology for weight loss therapy, has raised $75 million for its IPO after pricing its 5 million shares at $15 per share. The stock began trading October 6, 2016 on the NASDAQ under the ticker symbol “OBLN.” UBS Investment Bank, Canaccord Genuity and Stifel are the lead underwriters. Obalon’s backers included Axon Ventures, Mirae Asset Venture Investment, Striker Asia Opportunities Fund, Domain Associates, InterWest Partners and Okapi Venture Capital.
SAN DIEGO, Oct. 05, 2016 (GLOBE NEWSWIRE) — Obalon Therapeutics, Inc., a commercial-stage medical device company focused on developing and commercializing innovative medical devices to treat obese and overweight people by facilitating weight loss, today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a price to the public of $15.00 per share. The shares are expected to begin trading on The NASDAQ Global Market on October 6, 2016 under the symbol “OBLN.” In addition, the underwriters have been granted a 30-day option to purchase up to an additional 750,000 shares of common stock.
UBS Investment Bank, Canaccord Genuity and Stifel are acting as joint book-running managers for the offering. BTIG is acting as a co-manager.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on October 5, 2016. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to the offering, when available, may be obtained from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by telephone at (888) 827-7275; Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110 or by telephone at (617) 371-3900 or by e-mail at firstname.lastname@example.org; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104 or by telephone at (415) 364-2720 or by email at email@example.com.
This press release shall not constitute an offer to sell or the 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.