Inspire Medical Systems (INSP) IPO Opens 53% Higher

Today's IPO for Inspire Medical Systems, Inc. (NYSE: INSP) opened for trading at $24.49 after pricing 6,750,000 shares of its common stock at a public offering price of $16.

In addition, Inspire has granted the underwriters a 30-day option to purchase up to 1,012,500 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

BofA Merrill Lynch and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. Guggenheim Securities, Stifel and Wells Fargo Securities are acting as co-managers for the offering.

Inspire is a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea. Inspire Medical Systems’ proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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