Shearman & Sterling advised the underwriters of Inari Medical, Inc.’s initial public offering of 9,432,949 shares of common stock at a public offering price of $19.00 per share, resulting in gross proceeds to the Company of approximately $179.2 million. The 9,432,949 shares included 1,230,384 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 “NARI” on May 22, 2020.
BofA Securities and Morgan Stanley acted as joint book-running managers for the offering and Wells Fargo Securities and Canaccord Genuity acted as co-managers.
Inari is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases. The company’s initial product offering consists of two minimally-invasive, novel catheter-based mechanical thrombectomy devices – ClotTriever and FlowTriever, which have been purpose-built for the specific characteristics of the venous system and the treatment of the two distinct manifestations of venous thromboembolism – deep vein thrombosis and pulmonary embolism. Both products are designed to remove large clots from large vessels and to eliminate the need for thrombolytic drugs.
The Shearman & Sterling team below also included associates Nauka Patel, Sonia Khandekar, and Maeve Wilson.