Minerva Surgical (UTRS) IPO Opens, Trades Lower After Weak Pricing

Today's IPO for Minerva Surgical, Inc. (NASDAQ: UTRS) opened for trading earlier at $9.66 after pricing 6,250,000 shares of its common stock at a public offering price of $12.00 per share, below the expected $15-$17 range. Shares have since drifted lower to $9.17.

J.P. Morgan Securities LLC, Piper Sandler & Co., UBS Securities LLC and SVB Leerink LLC are acting as joint book-running managers for the proposed offering.

Minerva Surgical is a commercial-stage medical technology company focused on developing, manufacturing, and commercializing minimally invasive solutions to meet the distinct uterine healthcare needs of women. The company has established a broad product line of commercially available, minimally invasive alternatives to hysterectomy, which are designed to address the most common causes of abnormal uterine bleeding (AUB) in most uterine anatomies. The Minerva Surgical solutions can be used in a variety of medical treatment settings and aim to address the drawbacks associated with alternative treatment methods and to preserve the uterus by avoiding unnecessary hysterectomies.

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