Vapotherm, Inc. (NYSE: VAPO) announced the pricing of an underwritten public offering of 3,350,000 shares of its common stock at a price to the public of $26.00 per share. In addition, Vapotherm has granted the underwriters a 30-day option to purchase up to an additional 502,500 shares of its common stock at the public offering price less underwriting discounts and commissions. All of the shares are being offered by Vapotherm. The offering is expected to close on May 11, 2020, subject to customary closing conditions.
Vapotherm intends to use the net proceeds from this offering to hire additional sales and marketing personnel and expand marketing programs both in the United States and internationally, to make investments in its production capabilities, to fund product development and research and development activities, and for working capital and other general corporate purposes.
BofA Securities and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager and BTIG is acting as co-manager.