Pulmonx prices IPO at $19 a share, above proposed price range

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Pulmonx, a maker of treatments for lung diseases including emphysema,
priced its initial public offering at $19 a share, above its proposed price range of $17 to $18. The company upsized the deal on Wednesday and raised the proposed price range. The company sold 10 million shares to raise $190 million. Shares will start trading on Nasdaq later Thursday, under the ticker “LUNG.” BofA, and Morgan Stanley were lead underwriters on the deal, with Stifel, Wells Fargo and Canaccord acting as co-managers. Proceeds of the deal will be used to hire sales and marketing people, fund R&D, to pay a success fee to Oxford of $1.9 million and for working capital. “We are a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD),” the company says in its prospectus.
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