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MOUNTAIN VIEW, Calif. - Heartflow, Inc. (NASDAQ:HTFL), a company specializing in AI technology for coronary artery disease, announced Monday it has completed its initial public offering of 19,166,667 shares of common stock at $19 per share.
The offering included 2,500,000 additional shares issued after underwriters exercised their option in full. The company raised approximately $364.2 million in gross proceeds before deducting underwriting discounts, commissions and other offering expenses.
Heartflow’s common stock began trading on the Nasdaq Global Select Market on August 8 under the ticker symbol "HTFL."
J.P. Morgan, Morgan Stanley and Piper Sandler served as joint book-running managers for the offering, while Stifel and Canaccord Genuity acted as co-managers.
The company describes its Heartflow One as a non-invasive coronary care platform that provides patient insights throughout the CCTA pathway. According to the press release, the AI-driven platform is supported by the ACC/AHA Chest Pain Guideline and has been used to help clinicians manage over 400,000 patients worldwide.
The IPO was conducted through a registration statement that was filed with and declared effective by the U.S. Securities and Exchange Commission.
In other recent news, Heartflow, Inc. announced the closing of its initial public offering, raising approximately $364.2 million in gross proceeds. The company sold 19,166,667 shares of common stock at a price of $19 per share. This figure includes 2,500,000 additional shares issued when underwriters exercised their option to purchase extra shares. Initially, Heartflow had priced its upsized IPO at $19.00 per share, offering 16,666,667 shares. The expected gross proceeds from this offering were approximately $316.7 million before accounting for underwriting discounts, commissions, and other expenses. These developments mark significant financial milestones for Heartflow as it navigates the public markets.
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