Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.</li>
<li>Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.</li>
<li>With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.</li>
</ul>


Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.
Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.
With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.


Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

<ul>
<li>Beta Bionic, Inc. set terms for an IPO that could raise up to $120 million</li>
<li>The IPO is led by Bank of America Securities and is scheduled to debut on Thursday, 1/30.</li>
<li>The company's product, iLet Bionic Pancreas, was approved by the FDA in May 2023 and posted $44.7 million in sales for the nine months ended September 30, 2024.  </li>
</ul>


Beta Bionic, Inc. set terms for an IPO that could raise up to $120 million
The IPO is led by Bank of America Securities and is scheduled to debut on Thursday, 1/30.
The company's product, iLet Bionic Pancreas, was approved by the FDA in May 2023 and posted $44.7 million in sales for the nine months ended September 30, 2024.  


Beta Bionic, Inc. (BBNX): IPO Terms Set for Medical Device Company Aiding Insulin Patients

<ul>
<li>ILet Bionic Pancreas Device autonomously determine every insulin dose without requiring a user to count carbohydrate intake</li>
<li>Revenue for the nine months ended September 30, 2024 was $44.7 million, more than 3.5x that of their annual revenue of $12.0 million for the year ended December 31, 2023.</li>
<li>We anticipate this company to set terms (share size, price range) in the next week for a late January / early February debut.</li>
</ul>


ILet Bionic Pancreas Device autonomously determine every insulin dose without requiring a user to count carbohydrate intake
Revenue for the nine months ended September 30, 2024 was $44.7 million, more than 3.5x that of their annual revenue of $12.0 million for the year ended December 31, 2023.
We anticipate this company to set terms (share size, price range) in the next week for a late January / early February debut.


Beta Bionic, Inc. (BBNX) - Medical Device Company Targeting the Insulin Market Prepares for Q1 IPO

Kestra Medical Technologies / Equity Capital Markets

<ul>
<li>Wearable defibrillator maker, Kestra Medical Technologies (KMTS US) is set to debut on Thursday (3/6) seeking a cash raise of up to $160 million and a valuation between $667m-$762.</li>
<li>The deal is considered well-oversubscribed from continued 1-on-1 conversions and high-quality engagements.</li>
<li>Given the financials and sector in which this company operates in and the strong backing (Bain Capital), we continue to believe this IPO will be well-received despite any market volatility.</li>
</ul>


Wearable defibrillator maker, Kestra Medical Technologies (KMTS US) is set to debut on Thursday (3/6) seeking a cash raise of up to $160 million and a valuation between $667m-$762.
The deal is considered well-oversubscribed from continued 1-on-1 conversions and high-quality engagements.
Given the financials and sector in which this company operates in and the strong backing (Bain Capital), we continue to believe this IPO will be well-received despite any market volatility.


Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility

<ul>
<li>Kestra was founded in 2014 by Bain Capital private equity and leaders from the external (AED) and internal (ICD) defibrillation industries. </li>
<li>The company is seeking a valuation between $667m-$762m based on the $14-$16 range.</li>
<li>Given the financials, sector in which this company operates in and the strong backing, it is our early opinion that the IPO will likely be well-received.</li>
</ul>


Kestra was founded in 2014 by Bain Capital private equity and leaders from the external (AED) and internal (ICD) defibrillation industries. 
The company is seeking a valuation between $667m-$762m based on the $14-$16 range.
Given the financials, sector in which this company operates in and the strong backing, it is our early opinion that the IPO will likely be well-received.


Kestra Medical Technologies, Ltd (KMTS): Defibrillator Maker to Break IPO Thaw

United States

Beta Bionics, Inc. is a commercial-stage medical device company. The Company offers an automated insulin delivery system with closed-loop algorithms for the treatment of people with diabetes. Beta Bionics operates in the United States.

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Beta Bionics (BBNX US)

Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Beta Bionics, a developer of bionic pancreas system called iLet, is expected to IPO next week. In my insight, I discuss IPO valuation and...

Andrei Zakharov

Beta Bionic, Inc. (BBNX): IPO Terms Set for Medical Device Company Aiding Insulin Patients

Beta Bionic, Inc. plans IPO to raise up to $120 million led by Bank of America Securities, showcasing success of iLet Bionic Pancreas with FDA...

IPO Boutique

Beta Bionic, Inc. (BBNX) - Medical Device Company Targeting the Insulin Market Prepares for Q1 IPO

Bionic Pancreas device revolutionizes insulin dosing, company sees significant revenue growth and prepares for upcoming IPO.

IPO Boutique

Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility

Wearable defibrillator maker Kestra Medical Technologies set to debut with IPO seeking up to $160 million, backed by Bain Capital and expected to...

IPO Boutique

Kestra Medical Technologies, Ltd (KMTS): Defibrillator Maker to Break IPO Thaw

Kestra, founded in 2014 by Bain Capital and industry leaders, seeks a valuation of $667m-$762m in its upcoming IPO, expected to be well-received.

IPO Boutique

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Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Beta Bionics, a developer of bionic pancreas system called iLet, is expected to IPO next week. In my insight, I discuss IPO valuation and...

Andrei Zakharov

Beta Bionic, Inc. (BBNX): IPO Terms Set for Medical Device Company Aiding Insulin Patients

​Beta Bionic, Inc. plans IPO to raise up to $120 million led by Bank of America Securities, showcasing success of iLet Bionic Pancreas with FDA...

IPO Boutique

Beta Bionic, Inc. (BBNX) - Medical Device Company Targeting the Insulin Market Prepares for Q1 IPO

​Bionic Pancreas device revolutionizes insulin dosing, company sees significant revenue growth and prepares for upcoming IPO.

IPO Boutique

Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility

​Wearable defibrillator maker Kestra Medical Technologies set to debut with IPO seeking up to $160 million, backed by Bain Capital and expected to...

IPO Boutique

Kestra Medical Technologies, Ltd (KMTS): Defibrillator Maker to Break IPO Thaw

​Kestra, founded in 2014 by Bain Capital and industry leaders, seeks a valuation of $667m-$762m in its upcoming IPO, expected to be well-received.

IPO Boutique

Beta Bionic, Inc. plans IPO to raise up to $120 million led by Bank of America Securities, showcasing success of iLet Bionic Pancreas with FDA...

Bionic Pancreas device revolutionizes insulin dosing, company sees significant revenue growth and prepares for upcoming IPO.

Wearable defibrillator maker Kestra Medical Technologies set to debut with IPO seeking up to $160 million, backed by Bain Capital and expected to...

Kestra, founded in 2014 by Bain Capital and industry leaders, seeks a valuation of $667m-$762m in its upcoming IPO, expected to be well-received.