ShockWave Medical (SWAV) IPO Surges 46% in Debut

March 7, 2019 11:11 AM EST

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Today's IPO for ShockWave Medical (NASDAQ: SWAV) opened for trading at $24.80 after pricing 5.7 million shares at $17.

The underwriters for the offering also have a 30-day option to purchase up to an additional 855,000 shares of ShockWave’s common stock at the price to the public, less underwriting discounts and commissions.

Morgan Stanley and BofA Merrill Lynch are acting as joint lead book-running managers for the offering. Wells Fargo Securities and Canaccord Genuity are acting as co-managers for the offering. Perella Weinberg Partners is acting as independent capital markets advisor to ShockWave for the offering.

ShockWave Medical is a medical device company focused on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. ShockWave Medical aims to establish a new standard of care for medical device treatment of atherosclerotic cardiovascular disease through its differentiated and proprietary local delivery of sonic pressure waves for the treatment of calcified plaque.

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