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Kestra Medical Technologies initiates trading at $22.95, after $17 IPO

Published 06/03/2025, 18:26
© Reuters.

Investing.com -- Kestra Medical (TASE:BLWV) Technologies, Ltd., a firm specializing in wearable medical devices and digital healthcare, commenced trading on the Nasdaq Global Select Market under the ticker symbol (NASDAQ:KMTS) on March 6, 2025. The shares opened at $22.95, a significant increase from the initial public offering (IPO) price of $17.00 per share.

The company had previously announced on Wednesday an upsized IPO of 11,882,352 common shares. Alongside this, underwriters were granted a 30-day over-allotment option, allowing them to purchase up to an additional 1,782,352 common shares from Kestra at the IPO price, after subtracting underwriting discounts and commissions.

The gross proceeds from the IPO, prior to the deduction of underwriting discounts, commissions, and other offering expenses payable by Kestra, are anticipated to be around $202 million. This estimation does not include any potential exercise of the underwriters’ option to purchase more common shares.

BofA Securities, Goldman Sachs & Co (NYSE:GS). LLC, and Piper Sandler are the lead bookrunners for this offering.

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