Shockwave Medical registers for $70m IPO

Shockwave Medical has registered for an upcoming initial public offering worth $70 million, according to recently posted SEC filings.

The Santa Clara, Calif.-based vascular tech developer is looking to list its common stock on the Nasdaq Global Market under the symbol “SWAV,” according to the filing.

Net proceeds from the offering are slated to support ongoing commercialization of the company’s Intravascular Lithotripsy, or IVL, devices, according to the filing. Funds will also be used to expand the company’s sales force, medical affairs teams and educational efforts, as well as for possible strategic transactions and for general corporate purposes.

Shockwave Medical has not yet stated how many shares it plans to offer in the round or the pricing for the shares.

Last month, Shockwave Medical said that it launched a U.S. pivotal trial for its coronary lithotripsy device, which is designed to prepare heavily calcified coronary lesions for stenting.

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