MINNEAPOLIS, June 29, 2021 (GLOBE NEWSWIRE) -- CVRx, Inc. (“CVRx”), a commercial-stage medical device company focused on developing, manufacturing and commercializing innovative and minimally invasive neuromodulation solutions for patients with cardiovascular diseases, announced today the upsize and pricing of its initial public offering of 7,000,000 shares of its common stock at a public offering price of $18.00 per share. In connection with the offering, CVRx has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares are expected to begin trading on the Nasdaq Global Select Market on June 30, 2021 under the ticker symbol “CVRX.” The gross proceeds from the offering, before deducting the underwriting discount and other offering expenses payable by CVRx, are expected to be approximately $126.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The closing of the offering is expected to occur on July 2, 2021, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Piper Sandler and William Blair acted as joint book-running managers and as representatives of the underwriters for the offering. Canaccord Genuity acted as a lead manager for the offering.
The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by email at firstname.lastname@example.org; from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or via email at email@example.com; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at firstname.lastname@example.org.
A registration statement on Form S-1 (File No. 333-256800), including a prospectus, relating to these securities was declared effective by the U.S. Securities and Exchange Commission on June 29, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About CVRx, Inc.
Headquartered in Minneapolis, MN, CVRx is a leader in innovative medical technologies that address the unmet needs in cardiovascular diseases with safe and effective therapies that harness and harmonize the body’s natural systems. CVRx is dedicated to improving patient outcomes, quality of life, and overall cardiovascular health via novel baroreceptor neuromodulation therapies.
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