Inari Medical to promote COO into CEO spot

Inari Medical COO Drew Hykes will become CEO. [Image courtesy of Inari Medical]Inari Medical (Nasdaq:NARI) announced this week that Drew Hykes will succeed Bill Hoffman as the company’s CEO.

Hykes, who currently serves as COO at the venous-specific devices company, will succeed Hoffman, effective Jan. 1, 2023. He will also join Inari’s board, while Hoffman will continue to serve on the board as well.

“Drew is a talented leader, and he is the single best problem solver I’ve ever seen. More important, he is committed to the beautiful simplicity of our mission to impact the lives of our patients and their families in extraordinary ways, and to take care of our people along the way,” Hoffman said in a news release. “Drew has established the scalable and repeatable systems that have produced best-in-class growth in patient treatments and revenue, and he has developed the cross-functional processes that have resulted in the explosion of new products and new …

Read more
  • 0

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-b…

Read more
  • 0

Inari Medical to raise $156m in upsized IPO

Inari Medical (NSDQ:NARI) announced that it upsized its initial public offering of common stock shares for total gross proceeds of approximately $156 million.

Earlier this week, the venous disease treatment developer announced that it launched the roadshow for its initial public offering (IPO) of shares of its common stock, planning to offer more than 7.3 million shares of common stock with an expected additional 30-day option for underwriters to purchase close to 1.1 million more shares.

The previously priced offering estimated shares to sell between $14 and $16, but the company upsized the offering to more than 8.2 million shares at a price of $19 per share. Inari also granted underwriters a 30-day option to purchase up to more than 1.2 million additional shares.

Inari Medical said in a news release that it expects to begin trading on the NASDAQ market today and anticipates that the IPO will close on May 27.

BofA Securities and Morgan Stanley ar…

Read more
  • 0

Inari Medical plans to launch IPO to raise more than $110m

Inari Medical announced today that it launched the roadshow for its initial public offering (IPO) of shares of its common stock.

The venous disease treatment developer is offering more than 7.3 million shares of common stock with an expected additional 30-day option for underwriters to purchase close to 1.1 million more shares.

Irvine, Calif.-based Inari Medical expects the IPO price to fall between $14 and $16 per share with the stock expected to trade on the Nasdaq Global Market under the ticker “NARI,” according to a news release.

Should the shares sold in the IPO average between $14 and $16, Inari Medical could be looking at bringing in proceeds of approximately $110 million, which could range up to approximately $126.5 million if the underwriters exercise the option to purchase the additional shares.

BofA Securities and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. Wells Fargo Securities …

Read more
  • 0