46.55 -1.20 (-2.51%)
After hours: 7:23PM EDT
|Bid||47.70 x 2200|
|Ask||47.72 x 1800|
|Day's Range||44.70 - 50.50|
|52 Week Range||39.55 - 50.50|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The gross proceeds to Inari, before deducting underwriting discounts and commissions and offering expenses, were approximately $179.2 million. Inari’s common stock is listed on the Nasdaq Global Select Market under the symbol "NARI."
Inari Medical shares soar in public debut under the ticker NARI. Yahoo Finance's Adam Shapiro discusses.
Shares of Inari Medical Inc. rocketed out of the gate Friday, as they opened for trading at prices that were more than double the initial public offering price. The Irvine, Calif.-based company, which develops medical devices for patients suffering from venous diseases, upsized its IPO to 8.20 million shares from 7.33 million shares. The company raised $155.85 million in the IPO, which priced at $19, above the expected range of $17 to $18, which was recently raised from $14 to $16. The stock's first trade was at $41.30--117% above the IPO price--at 12:09 p.m. ET for 1.1 million shares. It has since held its gains, and was most recently up 116%. The company went public at a time that the Renaissance IPO ETF has gained 2.9% over the past three months, while the S&P 500 has lost 12.0%.
Inari Medical Inc. increased that number of shares it was selling in its initial public offering, which priced late Thursday above the expected range. The Irvine, Calif.-based company, which develops medical devices for patients suffering from venous diseases, offered 8.2 million shares in the IPO, up from 7.33 million. The IPO priced at $19 a share, above the expected range of $17 to $18 a share, which was raised early Thursday from a previous expected range of $14 to $16. The company raised $155.85 million in the IPO. The stock is expected to begin trading on the Nasdaq exchange Friday. BofA Securities and Morgan Stanley are the joint lead bookrunning managers for the offering. The company is going public at a time that the Renaissance IPO ETF has gained 2.2% over the past three months while the S&P 500 has lost 11.7%.
All of the shares are being offered and sold by Inari. In addition, Inari has granted the underwriters a 30-day option to purchase up to an additional 1,230,384 shares of common stock at the initial public offering price, less underwriting discounts and commissions.