BOSTON–908 Devices Inc., a purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis, announced plans to commence the roadshow for an initial public offering of shares of its common stock, with 6,250,000 shares being offered by the Company pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”).
The underwriters will have a 30-day option to purchase up to an additional 937,500 shares of common stock from the Company. The price range for the initial public offering is currently estimated to be between $15.00 and $17.00 per share. 908 Devices has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “MASS.”
The Company intends to use the net proceeds from the offering, together with its existing cash, for working capital and general corporate purposes, including: (1) to expand its commercial operations to grow and support the installed base of its products among life sciences research customers in the United States and internationally; and (2) to fund its research and development efforts to expand the applications of its current devices and to create enhanced products with its platform of technologies. The Company may also use a portion of the remaining net proceeds, if any, to acquire complementary businesses, products, services or technologies, including scientific expertise.
Cowen and SVB Leerink will act as lead book-running managers for the proposed offering. William Blair and Stifel will be book-running managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 833-297-2926, or by email at PostSaleManualRequests@broadridge.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02120, telephone: 1-800-808-7525, ext. 6132, or by email at syndicate@svbleerink.com.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
