CeriBell, Inc. Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

CeriBell, Inc. (Nasdaq: CBLL), a commercial-stage medical technology company, has announced the pricing of its upsized initial public offering. The company is offering 10,606,060 shares of common stock at a public offering price of $17.00 per share. CeriBell has also granted underwriters a 30-day option to purchase up to an additional 1,590,909 shares at the initial offering price.

Trading of the shares is expected to begin on the Nasdaq Global Select Market on October 11, 2024, under the ticker symbol 'CBLL'. The gross proceeds from the offering are anticipated to be approximately $180.3 million, excluding any exercise of the underwriters' option. The offering is expected to close on October 15, 2024, subject to customary closing conditions.

BofA Securities and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters, with William Blair, TD Cowen, and Canaccord Genuity serving as co-managers for the offering.

Positive

• Upsized initial public offering indicates strong investor interest
• Gross proceeds expected to be approximately $180.3 million
• Listing on Nasdaq Global Select Market enhances company visibility
• Underwriters granted option to purchase additional shares, potentially increasing proceeds

Negative

• Potential dilution of existing shareholders' ownership
• Increased public scrutiny and reporting requirements as a public company
• Market volatility may affect stock price post-IPO

Insights

Financial Analyst

CeriBell's IPO pricing at $17 per share, raising approximately $180.3 million, is a significant milestone for the medical technology company. The upsized offering of 10,606,060 shares, with an additional 1,590,909 shares available through the underwriters' option, indicates strong investor interest.

The IPO valuation and size are noteworthy for a commercial-stage medtech company, suggesting confidence in CeriBell's technology and market potential. The involvement of major underwriters like BofA Securities and J.P. Morgan adds credibility to the offering.

Investors should consider:

• CeriBell's focus on neurological conditions, a growing market segment
• The company's transition from pre-revenue to commercial stage
• Potential for rapid growth but also increased scrutiny as a public company
• Use of proceeds and path to profitability

This IPO represents a significant liquidity event for early investors and provides CeriBell with capital for expansion and R&D. However, new investors should carefully evaluate the company's financials and growth prospects before making investment decisions.

SUNNYVALE, Calif., Oct. 10, 2024 /PRNewswire/ -- CeriBell, Inc. (Nasdaq: CBLL) ("Ceribell"), a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions, announced today the pricing 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. In connection with the offering, Ceribell 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 shares are expected to begin trading on the Nasdaq Global Select Market on October 11, 2024 under the ticker symbol "CBLL". 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. The closing of the offering is expected to occur on October 15, 2024, subject to satisfaction of customary closing conditions.

BofA Securities and J.P. Morgan are acting as joint book-running managers and as representatives of the underwriters for the offering. William Blair, TD Cowen and Canaccord Genuity are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.

A registration statement on Form S-1, including a prospectus, relating to these securities was declared effective by the U.S. Securities and Exchange Commission on October 10, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ceribell
Ceribell is a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. The Ceribell System is an AI-powered, rapidly deployable point-of-care electroencephalography ("EEG") platform designed to address the unmet needs of patients in the acute care setting. The company is headquartered in Sunnyvale, Calif.

INVESTOR CONTACT

Brian Johnston or Laine Morgan
Gilmartin Group, LLC
investors@ceribell.com 

MEDIA CONTACT

Corrie Rose
Press@ceribell.com

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SOURCE Ceribell, Inc.

FAQ

What is the IPO price for CeriBell (CBLL) stock?

CeriBell (CBLL) has priced its initial public offering at $17.00 per share.

How many shares is CeriBell (CBLL) offering in its IPO?

CeriBell (CBLL) is offering 10,606,060 shares of common stock in its initial public offering.

When will CeriBell (CBLL) stock begin trading on the Nasdaq?

CeriBell (CBLL) stock is expected to begin trading on the Nasdaq Global Select Market on October 11, 2024.

What are the expected gross proceeds from CeriBell's (CBLL) IPO?

The expected gross proceeds from CeriBell's (CBLL) IPO are approximately $180.3 million, excluding any exercise of the underwriters' option to purchase additional shares.

Who are the underwriters for CeriBell's (CBLL) initial public offering?

BofA Securities and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for CeriBell's (CBLL) IPO. William Blair, TD Cowen, and Canaccord Genuity are acting as co-managers.