ShockWave Medical, which sells medical systems used in treating cardiovascular disease, announced terms for its IPO on Monday.
The Santa Clara, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, ShockWave Medical would command a fully diluted market value of $428 million.
ShockWave Medical was founded in 2009 and booked $12 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SWAV. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of March 4, 2019.
