Heartflow, Inc. Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares
Rhea-AI Summary
Heartflow (NASDAQ: HTFL), an AI technology company focused on coronary artery disease (CAD), has successfully completed its upsized Initial Public Offering (IPO). The company sold 19,166,667 shares at $19 per share, including the full exercise of the underwriters' option to purchase additional 2,500,000 shares.
The IPO generated total gross proceeds of approximately $364.2 million before deducting underwriting discounts and other expenses. Trading of Heartflow's common stock began on the Nasdaq Global Select Market on August 8, 2025. The offering was jointly managed by J.P. Morgan, Morgan Stanley, and Piper Sandler, with Stifel and Canaccord Genuity acting as co-managers.
Positive
- Successfully raised $364.2 million in gross proceeds from IPO
- Achieved upsized offering with full exercise of underwriters' option
- Listed on the prestigious Nasdaq Global Select Market
- Strong backing from major investment banks as underwriters
Negative
- Potential dilution for early investors due to large share offering
- Significant offering expenses and underwriting discounts to be deducted from proceeds
News Market Reaction – HTFL
In the Aug 12 session, HTFL declined 0.30%, reflecting a mild negative market reaction. Argus tracked a peak move of +2.6% during that session. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MOUNTAIN VIEW, Calif., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Heartflow, Inc. (Heartflow) (Nasdaq: HTFL), a leader in AI technology for coronary artery disease (CAD), today announced the closing of its upsized initial public offering of 19,166,667 shares of its common stock at a public offering price of
J.P. Morgan, Morgan Stanley and Piper Sandler acted as joint book-running managers for the offering. Stifel and Canaccord Genuity acted as co-managers for the offering.
A registration statement relating to the shares sold in this offering was filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering was made only by means of a prospectus, copies of which may be obtained from 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; Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at prospectus@morganstanley.com; or Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1300, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
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 Heartflow, Inc.
Heartflow is advancing coronary care by transforming coronary artery disease into a screenable, diagnosable, and manageable condition. Heartflow One is the only complete, non-invasive, precision coronary care platform providing patient insights throughout the guideline-directed CCTA pathway. The AI-driven platform — including Roadmap™ Analysis, FFRCT Analysis and Plaque Analysis — is supported by the ACC/AHA Chest Pain Guideline and backed by more than 600 peer-reviewed publications. Heartflow has helped clinicians manage over 400,000 patients worldwide.
Media Contact
Elliot Levy
elevy@heartflow.com
Investor Contact
Nick Laudico
nlaudico@heartflow.com
