Kestra Medical Technologies, Ltd. Announces Pricing of Upsized Primary Public Offering of Common Shares

Rhea-AI Summary

Kestra Medical Technologies (Nasdaq: KMTS) priced an upsized underwritten public offering of 6,000,000 common shares at $23.00 per share, producing expected gross proceeds of $138,000,000.

The company granted the underwriters a 30-day option to buy up to 900,000 additional shares at the offering price less discounts. The offering is expected to close on December 4, 2025, subject to customary closing conditions. A registration statement was declared effective on December 2, 2025.

Positive

• $138,000,000 expected gross proceeds from the offering
• Offering price set at $23.00 per share for 6,000,000 shares
• Underwriters include BofA, Piper Sandler, J.P. Morgan, Goldman Sachs, Wells Fargo

Negative

• Underwriters granted 30-day option for up to 900,000 additional shares
• Offering subject to customary closing conditions; closing not guaranteed
• Potential share dilution from sale of 6,000,000 shares and optioned 900,000

Insights

Capital Markets Strategist

Kestra priced an upsized primary offering to raise roughly $138,000,000, with a 30‑day overallotment option.

The company is offering 6,000,000 common shares at $23.00 per share, producing gross proceeds of approximately $138,000,000, and granted underwriters a 30‑day option to buy up to an additional 900,000 shares at the public price less fees. The registration statement was declared effective on December 2, 2025, and the offering is expected to close on December 4, 2025, subject to customary closing conditions.

This transaction directly affects equity supply and corporate liquidity; it increases available shares and raises material gross capital. The press release does not state the intended use of proceeds, so the net effect on capital allocation or operating runway cannot be determined from the disclosed facts. Key dependencies are satisfaction of the customary closing conditions and whether the underwriters exercise the overallotment option; those will change dilution and actual gross proceeds. Monitor the filing of the final prospectus, the closing on December 4, 2025, and any statements in the final prospectus about use of proceeds and underwriting discounts.

KIRKLAND, Wash., Dec. 02, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (Nasdaq: KMTS), a wearable medical device and digital healthcare company, today announced the pricing of its upsized underwritten public offering of 6,000,000 common shares at a price to the public of $23.00 per share. The gross proceeds to Kestra from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $138,000,000. In addition, Kestra has granted the underwriters a 30-day option to purchase up to an additional 900,000 common shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on December 4, 2025, subject to the satisfaction of customary closing conditions.

BofA Securities, Piper Sandler, J.P. Morgan, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as bookrunners for the offering.

The offering is being made only by means of a prospectus. A preliminary prospectus related to the offering has been filed with the SEC and is available on the SEC’s website located at www.sec.gov. A final prospectus related to the offering will be filed with the SEC. Copies of the preliminary prospectus and, when available, the final prospectus, 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; Piper Sandler, 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, Attention: Prospectus Department, by telephone at 800-747-3924 or by email at prospectus@psc.com; J.P. Morgan Securities LLC, 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; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective on December 2, 2025. Copies of the registration statement can be accessed by visiting the SEC’s website at www.sec.gov. 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.

Cautionary Statements Regarding Forward-Looking Information

Except where otherwise noted, the information contained in this press release is as of December 2, 2025. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about, among other topics, Kestra’s expectations regarding the closing of the offering and the grant of the option to purchase additional shares to the underwriters. Statements in this press release that express a belief, expectation or intention, as well as those that are not based on historical fact, as forward-looking statements. Given their forward-looking nature, these statements involve substantial risks, uncertainties and potentially inaccurate assumptions, and we cannot ensure that any outcome expressed in these forward-looking statements will be realized in whole or in part. You can identify these statements by the fact that they use future dates or use words such as “will,” “may,” “could,” “likely,” “ongoing,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “assume,” “target,” “forecast,” “guidance,” “goal,” “objective,” “aim,” “seek,” “potential,” “hope” and other words and terms of similar meaning. Among the factors that could cause actual results to differ materially from those currently anticipated include risks and uncertainties related to market conditions, satisfaction of customary closing conditions related to the offering and other risks and uncertainties described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2025 filed with the SEC on July 17, 2025, and in other periodic reports filed by the Company with the SEC. These filings, when made, are available on the Investor Relations section of our website and on the SEC’s website at https://sec.gov/. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Kestra
Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected.

Investor contact
Neil Bhalodkar 
neil.bhalodkar@kestramedical.com 

FAQ

What did Kestra Medical Technologies (KMTS) price its public offering at?

Kestra priced the offering at $23.00 per share for 6,000,000 common shares.

How much gross proceeds will KMTS raise from the upsized offering?

The offering is expected to generate $138,000,000 in gross proceeds before fees and expenses.

When is the Kestra (KMTS) offering expected to close?

The offering is expected to close on December 4, 2025, subject to customary closing conditions.

Does Kestra (KMTS) give underwriters an option to buy more shares?

Yes; underwriters have a 30-day option to purchase up to 900,000 additional shares at the offering price less discounts.

Who are the lead bookrunners for the KMTS offering?

Bookrunners are BofA Securities, Piper Sandler, J.P. Morgan, Goldman Sachs, and Wells Fargo Securities.

Where can investors find the KMTS registration and prospectus?

A registration statement and preliminary prospectus are available on the SEC website (www.sec.gov).