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Motus GI decreases proposed IPO deal size to $21 million ahead of tonight's IPO

Motus GI Holdings, which is developing a medical device to assist with intraprocedural colonoscopy cleaning, lowered the proposed deal size for its upcoming IPO on Tuesday.

The Tirat Carmel, Israel-based company now plans to raise $21 million by offering 3.5 million shares at a price range of $5 to $7. Insiders still intend to purchase $7.5 million worth of shares in the offering (36% of deal size). The company had previously filed to offer 4.3 million shares at the same range. At the midpoint of the revised range, Motus will raise -18% less in proceeds than previously anticipated.

Motus GI Holdings was founded in 2011 and plans to list on the Nasdaq under the symbol MOTS. Piper Jaffray and Oppenheimer & Co. are the joint bookrunners on the deal.

The article Motus GI decreases proposed IPO deal size to $21 million ahead of tonight's IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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