Finance History | Nasdaq MarketSite — Fifteen Dollars for Seven-Point-Seven Million Pump Shares
· 2007-5
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Finance History | Nasdaq MarketSite — Fifteen Dollars for Seven-Point-Seven Million Pump Shares
kevin
People treat Insulet as an Acton campus that always printed PODD after a finished Omnipod book.
The May 2007 issuer was Insulet Corporation, a Bedford, Massachusetts device shop founded in 2000 to sell a tubeless insulin pump.
The company priced 7.7 million common shares at 15 dollars a share on 15 May 2007, 115.5 million dollars in 2007 currency before fees, all sold by the issuer.
The same press release said the shares would begin trading that day on the Nasdaq Global Market under the letters PODD, with an underwriter option for 1,155,000 more shares.
J.P. Morgan and Merrill Lynch ran the books. Thomas Weisel Partners and Leerink Swann co-managed.
VentureBeat recorded a first-day gain of about 6.9 percent. Renaissance Capital later tabulated a first-day return of 6.4 percent.
The mechanism is a pre-profit medical-device issuer priced as public manufacturing capacity for a wearable pump that had been selling since 2005.
Nasdaq MarketSite at 4 Times Square opened in 2000, seven years before the PODD first print. The pin is that public facade. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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