The gastric balloon developer has gone public, after raising more than $70m in debt and equity from investors including Bader Sultan & Bros and AmorePacific.
US-based medical device producer Obalon Therapeutics raised $75m when it floated on Nasdaq yesterday, giving an exit to medical equipment distributor Bader Sultan & Bros and cosmetics producer AmorePacific.
Obalon issued 5 million shares priced at $15.00 each. The underwriters have a 30-day option to acquire another 750,000 shares, which would lift the size of the initial public offering to approximately $86.3m.
Founded in 2008, Obalon develops medical devices that help obese and overweight people lose weight. Its lead product,…
