908 Devices Inc. (MASS) Prices 3.15M Share IPO at $32/sh

908 Devices Inc. (NASDAQ: MASS), a pioneer of purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis, today announced the pricing of a public offering of shares of its common stock, with 3,150,000 shares being offered by the Company at a public offering price of $32.00 per share. In addition, 908 Devices has granted the underwriters a 30-day option to purchase up to an additional 472,500 shares of common stock from the Company. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by 908 Devices, are expected to be approximately $100.8 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on November 15, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, for working capital and general corporate purposes, including: (1) to fund its research and development efforts to expand the applications of its current devices and to create enhanced products with its platform of technologies; (2) to expand its commercial operations and accelerate planned investments; and (3) to acquire complementary businesses, products, services or technologies.

Cowen and SVB Leerink are acting as lead book-running managers for the offering. William Blair and Stifel are book-running managers for the offering.

A registration statement on Form S-1 relating to the shares sold in the public offering has been filed with the Securities and Exchange Commission and became effective on November 10, 2021. The offering will be made only by means of a prospectus, copies of which may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 833-297-2926, or by email at [email protected]; or SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, telephone: 1-800-808-7525, ext. 6105, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction

You May Also Be Interested In

• Nerdy Inc. to execute 1-for-15 reverse stock split on Aug. 19
• Z Squared outlines AI power strategy and Paradox Data acquisition
• William Blair Downgrades On Holding AG (ONON) to Market Perform