Pulmonx upsizes IPO to 10 million shares and lifts price range

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Pulmonx, a maker of treatments for lung diseases including emphysema, upsized its planned initial public offering on Wednesday and raised the proposed price range, saying in a regulatory filing it will now offer 10 million shares priced at $17 to $18 each. The company has previously said it would offer 6.7 million shares priced at $14 to $16 each. Pulmonx has applied to list on Nasdaq, under the ticker “LUNG.” BofA, and Morgan Stanley are 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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