Kestra Medical Technologies announced that it priced an upsized underwritten offering worth approximately $138 million.
The Kirkland, Washington-based company said its offering includes 6 million shares of common stock priced at $23 apiece. That brings gross proceeds, before deducting discounts, commissions and other offering expenses, to $138 million.
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Kestra also granted underwriters a 30-day option to purchase up to an additional 900,000 common stock shares at the offering price. The company expects the offering to close on Dec. 4, 2025, subject to customary closing conditions. BofA Securities, Piper Sandler, J.P. Morgan, Goldman Sachs and Wells Fargo Securities serve as bookrunners for the offering.
The company did not list an intended use of proceeds for the funds raised in the offering. Its latest cash infusion comes about nine months after completing a $202 million upsized initial public offering (IPO). In July 2024, the company brought in $196 million in an oversubscribed financing round.
Proceeds will likely support the company’s continued efforts for its wearable defibrillator technology. Kestra develops the Assure wearable cardioverter defibrillator (WCD), which provides autonomous detection and defibrillation for ventricular arrhythmias. It can also detect and record other clinically significant arrhythmias.
Assure features four channels of ECG, an advanced algorithm and adaptive patient intelligence. The WCD reduces noise and ensures clear data and insights. It also sends an alert to an emergency medical services (EMS) operator after a defibrillator shock. The modern wearable defibrillator system received FDA approval in 2021.
