Nevro Prices Upsized Public Offering Of 4.71 Mln Shares At $51 Per Share

(RTTNews) - Nevro Corp. (NVRO), a medical device company providing innovative evidence-based solutions for the treatment of chronic pain, Wednesday announced the pricing of an upsized underwritten public offering of its common stock at a public offering price of $51 per share, before underwriting discounts.

The offering consists of 1.76 million shares to be sold by Nevro and 2.94 million shares to be sold by certain of its stockholders, resulting in aggregate proceeds of about $90.0 million to Nevro and around $150.0 million to the selling stockholders.

The estimated proceeds are before underwriting discounts and commissions and expenses payable by Nevro.

In addition, Nevro granted the underwriters a 30-day option to purchase up to an additional 705,882 shares of common stock from Nevro. The offering is expected to close on or about June 8.

J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Leerink Partners and JMP Securities are the co-managers.