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HeartFlow Inc. (HTFL) completed its initial public offering, raising approximately $364.2 million in gross proceeds before fees and expenses, according to a company statement.
The Mountain View, California-based medical technology company sold 19,166,667 shares at $19 per share. The offering included 2,500,000 additional shares purchased through the full exercise of underwriters’ option to buy more stock.
HeartFlow’s common stock began trading on the Nasdaq Global Select Market on August 8 under the ticker symbol "HTFL." The company develops AI technology for coronary artery disease diagnosis and management.
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 Securities and Exchange Commission declared the company’s registration statement effective, allowing the public offering to proceed. All shares in the offering were sold by HeartFlow directly.
HeartFlow’s platform includes what the company calls Roadmap Analysis, FFRCT Analysis and Plaque Analysis technologies. The company states it has supported clinical management for over 400,000 patients globally.