HeartFlow completes $364.2 million IPO on Nasdaq

HeartFlow Inc. (NASDAQ: HTFL) completed its initial public offering, raising approximately $364.2 million in gross proceeds before expenses. The medical technology company sold 19,166,667 shares at $19 per share, including 2,500,000 additional shares from the full exercise of underwriters' option to purchase more stock.

The Mountain View, California-based company's shares began trading on the Nasdaq Global Select Market on August 8 under the ticker symbol "HTFL." All shares in the offering were sold by the company itself.

J.P. Morgan, Morgan Stanley and Piper Sandler served as joint book-running managers for the offering, while Stifel and Canaccord Genuity acted as co-managers.

HeartFlow develops artificial intelligence technology for diagnosing coronary artery disease. The company's platform includes Roadmap Analysis, FFR CT Analysis and Plaque Analysis tools. According to the company, its technology has been used by clinicians to manage over 400,000 patients worldwide and is supported by more than 600 peer-reviewed publications.

The Securities and Exchange Commission declared effective the registration statement for the shares sold in the offering. The information is based on a press release from the company.

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