Shearman & Sterling advised the underwriters of Lucira Health, Inc.’s initial public offering of 10,350,000 shares of common stock at a public offering price of $17 per share, resulting in gross proceeds to the company of approximately $176 million, before deducting underwriting discounts and commissions and offering expenses. The 10,350,000 shares included 1,350,000 of shares issued pursuant to the underwriters’ option to purchase additional shares. The shares began trading on The Nasdaq Global Select Market under the ticker symbol “LHDX” on February 5, 2021.
BofA Securities and William Blair acted as joint lead book-running managers for the offering and LifeSci Capital acted as co-manager.
Lucira Health, Inc. is a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits. Lucira has developed a testing platform that produces centralized-laboratory-accurate molecular testing in a single-use and consumer-friendly test kit that is powered by two AA batteries and fits in the palm of a hand. Lucira designed its test kits to provide accurate, reliable and on-the-spot molecular test results anywhere and at any time. The LUCIRA COVID-19 All-In-One Test Kit is designed to provide a clinically relevant COVID-19 result within 30 minutes from sample collection.
The Shearman & Sterling team below also included associate Maeve Wilson.