8 Things to Know About the Upcoming Minerva Surgical (UTRS) IPO

October 19, 2021 11:18 AM EDT

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Minerva Surgical (NASDAQ: UTRS), which makes equipment for minimally invasive treatment of abnormal uterine bleeding (AUB), will go public later this week. Here are 8 key things to consider about the upcoming UTRS IPO.

1. Minerva Surgical IPO Date - Minerva Surgical is due to go public this Friday, October 22. Minerva will start trading under the ticker symbol “UTRS” on Nasdaq. Typically, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2. Minerva Surgical IPO Pricing - Minerva Surgical expects to price its shares between $15.00 and $17.00.

3. Shares Offered - Minerva Surgical is looking to sell 6,250,000 shares of its common stock. The S-1 filing shows the number of outstanding shares after IPO offering would be 28,567,995 shares.

4. Minerva Surgical IPO Valuation - Minerva Surgical is seeking a valuation of between $428 million and $485 million.

5. UTRS IPO Raised Proceeds: At the midpoint of the pricing range, Minerva Surgical is looking to raise $100 million.

6. UTRS IPO Underwriters - JPMorgan, Piper Sandler, UBS, SVB Leerink are the main underwriters for this IPO.

7.3 UTRS Financials - Minerva Surgical said it generated revenue of $26 million with a gross margin of 60% for the first six months to the end of June. This compares to revenue of $11.9 million, with a gross margin of 36.7% and a net loss of $4.6 million for the six months ended June 30, 2020.

8. Minerva Surgical TAM - The American College of Obstetrics and Gynecology (ACOG) projects that one-third of women will seek treatment for AUB. Minerva Surgical estimates that roughly 750,000 women in the U.S. suffering from AUB enter the 25 to 50 age group each year, representing a potential annual recurring market opportunity of over $900 million.

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