Establishment Labs Announces Closing of Initial Public Offering

On July 23, 2018, Establishment Labs, a global medical technology company focused on breast aesthetics and reconstruction technologies, announced the closing of its initial public offering of 4,272,568 common shares at a public offering price of $18.00 per share, which includes the full exercise of the underwriters' option to purchase 557,291 additional shares. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Establishment Labs, were approximately $76.9 million. The shares began trading on the Nasdaq Capital Market under the ticker symbol "ESTA" on July 19.

According to a Forbes article, Establishment Labs is the first Costa Rica-based company to ever go public on a U.S. stock exchange. Wilson Sonsini Goodrich & Rosati represented Establishment Labs in the offering.

Jefferies and Cowen and Company acted as the joint book-running managers for the offering, while BTIG acted as the lead manager for the offering.

The WSGR team that represented Establishment Labs in the offering includes:

Corporate:
Elton Satusky
Jesse Schumaker
Drew Morris
RJ Lang
Joan Moses

Employee Benefits and Compensation:
Scott McCall
Mark Cornillez-Ty

Technology Transactions:
Lowell Segal
Alex Key

Tax:
Myra Sutanto Shen

For more information, please see Establishment Labs' press release.