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Kestra Medical Technologies, Ltd. Announces Full Exercise and Closing of Underwriters' Over-Allotment Option in Initial Public Offering

1. Kestra Medical Technologies completed an IPO with $232 million in proceeds. 2. The underwriters exercised an over-allotment option purchasing 1.78 million shares. 3. Shares sold at $17 each, enhancing liquidity for Kestra. 4. Kestra focuses on wearable medical devices for cardiovascular outcomes. 5. Leading financial firms underwrote the offering, indicating strong market confidence.

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Why Bullish?

Kestra's successful IPO and over-allotment boost investor confidence and liquidity. A similar historical IPO, like Zoom, saw a substantial price increase post-launch.

How important is it?

Kestra's IPO success signals future potential, impacting industry dynamics and investor interest. The healthcare tech field is evolving rapidly, enhancing KMTS's competitive landscape.

Why Short Term?

Immediate market response expected as shares enter trading. Previous IPOs typically see short-term volatility but substantial movement.

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KIRKLAND, Wash., March 14, 2025 (GLOBE NEWSWIRE) -- Kestra Medical Technologies, Ltd. (“Kestra”), a wearable medical device and digital healthcare company, announced today that the underwriters of Kestra’s initial public offering exercised in full their previously disclosed over-allotment option and have purchased 1,782,352 shares of common stock at a public offering price of $17.00 per share. After giving effect to the sale of over-allotment option, the total number of shares sold by Kestra in the initial public offering was 13,664,704 and the total gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kestra, were approximately $232 million. The issuance and sale of the over-allotment option closed today. BofA Securities, Goldman Sachs & Co. LLC and Piper Sandler acted as lead bookrunners for the offering. Wells Fargo Securities and Stifel acted as bookrunners and Wolfe | Nomura Alliance acted as co-manager for the offering. A registration statement relating to the common shares sold in this offering was filed with the Securities and Exchange Commission and became effective on March 5, 2025. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by facsimile at 212-902-9316, by email at Prospectus-ny@ny.email.gs.com, or by calling 1-866-471-2526; or Piper Sandler, by email at prospectus@psc.com, or by calling (800) 747-3924. 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. About Kestra Kestra Medical Technologies, Ltd. is a commercial-stage wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected. Disclaimer “Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura and Wolfe Research Securities are serving as underwriters in the offering described herein. In addition, Wolfe Research Securities may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with the offering.

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