PROCEPT BioRobotics (PRCT) IPO Opens at 40% Higher

Today's IPO for PROCEPT BioRobotics Corporation (Nasdaq: PRCT) opened for trading at $35 after pricing 6,556,000 shares of its common stock at a public offering price of $25.00 per share.

BofA Securities and Goldman Sachs & Co. LLC are acting as joint lead bookrunning managers for the offering. Cowen, Guggenheim Securities and SVB Leerink are acting as co-managers.

PROCEPT is a commercial-stage surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. PROCEPT designed Aquablation therapy to deliver effective, safe and durable outcomes for males suffering from lower urinary tract symptoms, or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. PROCEPT has developed a significant and growing body of clinical evidence, which includes nine clinical studies and over 100 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.

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