Heartflow raises $364.2 million in upsized IPO at $19 per share

MOUNTAIN VIEW, Calif. - Heartflow, Inc. (NASDAQ:HTFL), an AI technology company focused on coronary artery disease, announced Monday it has closed its initial public offering after raising approximately $364.2 million in gross proceeds.

The company sold 19,166,667 shares of common stock at $19 per share, which included 2,500,000 additional shares issued when underwriters fully exercised their option to purchase extra shares.

Heartflow’s stock began trading on the Nasdaq Global Select Market on August 8 under the ticker symbol "HTFL." The IPO was managed by J.P. Morgan, Morgan Stanley and Piper Sandler as joint book-running managers, with Stifel and Canaccord Genuity serving as co-managers.

The company describes itself as the developer of Heartflow One, a non-invasive coronary care platform that provides patient insights throughout the CCTA pathway. According to the company’s statement, the AI-driven platform includes Roadmap Analysis, FFRCT Analysis and Plaque Analysis capabilities.

Heartflow claims its technology is supported by the ACC/AHA Chest Pain Guideline and has been used in the management of over 400,000 patients worldwide.

The announcement was made in a press release issued by the company.

In other recent news, Heartflow, Inc. has announced the pricing of its upsized initial public offering at $19 per share. The company is offering 16,666,667 shares of common stock. This move is expected to generate approximately $316.7 million in gross proceeds before accounting for underwriting discounts, commissions, and other expenses. This development marks a significant step for Heartflow as it seeks to raise capital in the public markets. The proceeds from the IPO will likely support the company’s ongoing operations and potential future expansions. This news follows a press release statement from Heartflow, highlighting the company’s focus on advancing its business objectives. Investors and market analysts will be closely watching how Heartflow utilizes the funds raised from this offering.

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