Nevro Corp. Announces Pricing of Initial Public Offering

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Nov 06, 2014, 12:43 ET

MENLO PARK, Calif., Nov. 6, 2014 /PRNewswire/ -- Nevro Corp. (NYSE:NVRO), a medical device company that has developed and commercialized an innovative, evidence-based neuromodulation platform for the treatment of chronic pain, today announced the pricing of its initial public offering of 7,000,000 shares of its common stock at a public offering price of $18.00 per share, before underwriting discounts. In addition, Nevro has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock at the same price solely to cover over-allotments, if any. The company's shares are expected to begin trading on the New York Stock Exchange on November 6, 2014 under the ticker symbol "NVRO".

The offering is expected to close on November 12, 2014, subject to satisfaction of customary closing conditions.

J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the offering. Leerink Partners and JMP Securities are acting as co-managers.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on November 5, 2014. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204, or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [email protected].

This press release shall not constitute an offer to sell or a 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.

About Nevro Corp.

Headquartered in Menlo Park, California, Nevro Corp. is a medical device company focused on providing innovative products that enhance patient lives. Nevro has developed and commercialized the Senza® spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain. The Senza system is the only SCS system that delivers Nevro's proprietary HF10™ therapy. In the United States, the Senza system is limited by federal law to investigational use only. Senza, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.

SOURCE Nevro Corp.