MediWound's $70m IPO at low end of target
This article was originally published in Clinica
Executive Summary
Israel’s MediWound has priced its initial public offering, but the $70m total was at the low end of its expectations. The firm had been hoping to sell five million shares at $14-16 each, raising up to $80m in total, in fact had to settle for the bottom of this range. The underwriters also have the option to purchase up to 750,000 more shares at the same price, which could top up the grand total. The company began trading on the Nasdaq today under the ticker symbol MDWD. In spite of the disappointing total, the offering will be heartening to both MediWound and other start-ups considering taking a chance on the public market. So far this year, Clinica has recorded a total of 12 filings, and four, including MediWound, have succeeded in going public, bolstering hopes that the medtech IPO market is picking up.