Acutus Medical (AFIB) Announces August 6th IPO

Acutus Medical (AFIB) plans to raise $126 million in an initial public offering (IPO) on Thursday, August 6th, IPO Scoop reports. The company plans to issue 7,400,000 shares at a price of $16.00-$18.00 per share.

In the last year, Acutus Medical generated $3.6 million in revenue and had a net loss of $100.4 million. Acutus Medical has a market-cap of $418.8 million.

J.P. Morgan, BofA Securities and William Blair acted as the underwriters for the IPO and Canaccord Genuity and BTIG were co-managers.

Acutus Medical provided the following description of their company for its IPO: ”  We are an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated. Despite several decades of efforts by incumbents in this field, the clinical and economic challenges associated with arrhythmia treatment continue to be a huge burden for patients, providers and payors. We are committed to advancing the field of electrophysiology with a unique array of products and technologies which will enable more physicians to treat more patients more efficiently and effectively. Through internal product development, acquisitions and global partnerships, we have established a global sales presence delivering a broad portfolio of highly differentiated electrophysiology products. Our goal is to provide our customers with a complete solution for catheter-based treatment of cardiac arrhythmias in each of our geographic markets. “.

Acutus Medical was founded in 2011 and has 224 employees. The company is located at 2210 Faraday Ave., Suite 100, Carlsbad, CA 92008, US and can be reached via phone at (442) 232-6080 or on the web at http://www.acutusmedical.com.

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