Updates
** Shares of medical device maker Kestra Medical Technologies KMTS.O open 35% above the offer price in their Nasdaq debut
** Stock opens at $22.95, compared to the $17 IPO price, giving the Kirkland, Washington-based company a $1.14 billion market cap
** KMTS, backed by buyout firm Bain Capital, sold about 11.9 mln shares in its upsized offering, 19% more than initially offered, and above its marketed range of $14 to $16 apiece to raise $202 mln
** Listing marks first notable March IPO and third medical device maker flotation in New York since October
** KMTS competes in the wearable cardioverter defibrillator market, which has been dominated by Zoll Medical
** BofA Securities, Goldman Sachs and Piper Sandler were the lead bookrunners for the offering
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.