CeriBell Releases Price of Upsized Initial Public Offering

CeriBell, Inc., a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions, announced the price of its upsized initial public offering of 10,606,060 shares of its common stock at a public offering price of $17.00 per share. 
 
The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “CBLL” on October 11, 2024. The closing of the offering is expected to occur on October 15, 2024, subject to the satisfaction of customary closing conditions.
 
The company has granted the underwriters a 30-day option to purchase up to an additional 1,590,909 shares of common stock at the initial public offering price, less underwriting discounts and commissions. 
 
The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ceribell, are expected to be approximately $180.3 million, excluding any exercise of the underwriters’ option to purchase additional shares. 
 
BofA Securities and J.P. Morgan acted as joint book-running managers and as representatives of the underwriters for the offering. William Blair, TD Cowen, and Canaccord Genuity acted as co-managers for the offering.