Inari Medical to bring in up to $186.3M in stock offering

Inari Medical (Nasdaq:NARI) announced that it priced an underwritten public offering worth up to $186.3 million in proceeds.

Irvine, California-based Inari Medical’s offering includes 2 million shares of its common stock at a public offering price of $81 per share before underwriting discounts and commissions. The company granted the underwriters a 30-day option to purchase up to 300,000 additional shares of common stock at the public offering price.

All shares in the offering will be sold by Inari Medical, with the company expecting the offering to close on or about March 15, 2022, subject to customary closing conditions, according to a news release.

Inari Medical did not list an intended use of proceeds for the offering. The company develops the ClotTriever system for thrombectomy in the peripheral vessels in patients suffering from deep vein thrombosis and the FlowTriever system for treating pulmonary embolism. Both minimally invasive catheter-based devices have FDA 510(k) clearance.

BofA Securities and Morgan Stanley are acting as joint lead bookrunning managers for the offering. Wells Fargo Securities, Canaccord Genuity and BTIG are acting as co-managers.