Inari Medical (NARI) IPO Opens Sharply Higher

Today's IPO for Inari Medical, Inc. (NASDAQ: NARI) opened for trading at $41.30 after pricing its upsized initial public offering of 8,202,565 shares of its common stock at a public offering price of $19.00 per share.

In addition, Inari has granted the underwriters a 30-day option to purchase up to an additional 1,230,384 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

BofA Securities and Morgan Stanley are acting as joint lead bookrunning managers for the offering. Wells Fargo Securities and Canaccord Genuity are acting as co-managers.

Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.

Inari is focused on treating venous thromboembolism and improving the quality of life of patients suffering from this disease by safely and effectively removing blood clots. Inari has developed two minimally-invasive, novel catheter-based mechanical thrombectomy devices that are designed to remove large clots from large vessels and eliminate the need for thrombolytic drugs. The ClotTriever system is 510(k)-cleared by the FDA for thrombectomy in the peripheral vessels and is used to treat patients suffering from deep vein thrombosis. The FlowTriever system is 510(k)-cleared by the FDA for the treatment of pulmonary embolism.

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