Welcome to our dedicated page for 908 Devices news (Ticker: MASS), a resource for investors and traders seeking the latest updates and insights on 908 Devices stock.
908 Devices Inc. develops purpose-built handheld chemical analysis devices for point-of-need use in health, safety and defense technology applications. Its news centers on Mass Spec and FTIR product activity, installed-device growth, recurring revenue, and applications such as narcotics identification, toxic exposure screening and security-threat analysis.
Company updates also cover acquisitions and portfolio expansion, including the completed purchase of NIRLAB AG and its AI-powered, cloud-connected near-infrared spectroscopy platform for narcotics screening. Other recurring items include quarterly financial results, revenue outlooks, executive and strategy appointments, funded partnership revenue, and investor conference participation.
908 Devices announced the pricing of its upsized initial public offering (IPO) of 6,500,000 common stock shares at $20.00 each, aiming to raise $130 million gross proceeds. The underwriters have a 30-day option to purchase an additional 975,000 shares. Trading is set to begin on Nasdaq under the symbol 'MASS' on December 18, 2020, with the offering expected to close on December 22, 2020. Cowen and SVB Leerink are the lead book-running managers for the offering. The company specializes in handheld and desktop mass spectrometry devices for critical applications in various sectors.