BUZZ-Kestra Medical slides on planned share sale

Reuters12-01
BUZZ-Kestra Medical slides on planned share sale

** Shares of medical device maker Kestra Medical Technologies KMTS.O slide ~10.6% to $24.12

** KMTS announces public offering of 5.5 million shares

** BofA Securities, Piper Sandler, J.P. Morgan, Goldman Sachs and Wells Fargo Securities are acting as bookrunners for offering

** Capital raise comes just months after KMTS went public in New York following an upsized $202 million IPO

** Meanwhile, KMTS expects Q2 2026 revenue between $22.2 million and $22.6 million, compared with $14.7 million a year earlier

** Loss from operations expected between $31.6 million and $32 million, compared with $19.1 million a year earlier

** KMTS had ~51.3 million outstanding shares as of July 31, per offering prospectus

** As of last close, KMTS stock up 58.7% since debut in March

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment