Obalon registers $75 million of common stock for initial public sale

UBS, Canaccord Genuity, Stifel, Nicolaus are bookrunners, BTIG assists

By Devika Patel

Knoxville, Tenn., Sept. 9 – Obalon Therapeutics, Inc. will price an initial public offering of common stock with a 30-day greenshoe, according to a form S-1 filed Friday with the Securities and Exchange Commission. The company has registered up to $75 million of stock for the deal.

UBS Investment Bank, Canaccord Genuity Corp. and Stifel, Nicolaus & Co. Inc. are the bookrunners, and BTIG is the co-manager.

Proceeds will be used for the commercialization of the Obalon balloon system, research and development efforts, working capital and other general corporate purposes.

The medical device company is based in Carlsbad, Calif. It intends to list its common stock on the Nasdaq under the symbol “OBLN.”

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