AirSculpt Technologies, which provides minimally-invasive body contouring procedures in the US, announced terms for its IPO on Wednesday.
The Miami Beach, FL-based company plans to raise $160 million by offering 10 million shares (84% secondary) at a price range of $15 to $17. At the midpoint of the proposed range, AirSculpt Technologies would command a market value of $886 million.
Operating as Elite Body Sculpture, the company provides custom body contouring using its proprietary AirSculpt method, and performed over 5,800 body contouring procedures in 2020. The company delivers its body contouring procedures through a growing footprint of 16 centers across 13 states as of October 5, 2021.
AirSculpt Technologies was founded in 2012 and booked $102 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol AIRS. Morgan Stanley, Piper Sandler, and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of October 25, 2021.
