Shockwave Medical IPO Soars On First Day Of Trading

▤ Summary

Investors in the IPO included Abiomed ( ABMD ), which put $10 million in a concurrent private placement. "We aim to establish a new standard of care for medical device treatment of atherosclerotic cardiovascular disease through our differentiated and proprietary local delivery of sonic pressure waves for the treatment of calcified plaque," the Shockwave Medical IPO prospectus said. Based in Santa Clara, Calif., Shockwave said it will use net proceeds from the offering for sales and marketing activities to support the ongoing commercialization of its products. It plans to use proceeds also for the expansion of its international sales force, research and development and clinical studies. Investors in Shockwave Technology include Sofinnova Capital, Venrock Funds, Fidelity and T. Rowe Price.

▦ Linked Companies

Shockwave Games, Inc.

$1M to $5M