Shearman & Sterling advised the underwriters of Entellus Medical, Inc.’s initial public offering of 5,294,117 shares of common stock (including 690,537 shares purchased by the underwriters pursuant to their option to purchase additional shares) at a public offering price of $17.00 per share, resulting in gross proceeds to the company of approximately $90 million. The shares began trading on The NASDAQ Global Market under the ticker symbol “ENTL” on January 29, 2015.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Piper Jarffray & Co. acted as joint book-running managers for the offering, and William Blair & Company, L.L.C. and Canaccord Genuity Inc. acted as co-managers.
Headquartered in Plymouth, Minnesota, Entellus Medical, Inc., is a medical technology company focused on the design, development and commercialization of products for the minimally invasive treatment of patients suffering from chronic and recurrent sinusitis in the physician office setting or operating rooms. Entellus’ XprESS family of products is used by ear, nose and throat physicians to treat patients with symptomatic inflammation of the nasal sinuses. Entellus estimates it has treated approximately 75,000 patients with its XprESS products since the launch of the first XprESS product in February 2010.
The Shearman & Sterling team included partner Danielle Carbone (New York-Capital Markets); counsel Ilir Mujalovic (New York-Capital Markets); and associates Jesse Cuevas (San Francisco-Capital Markets), Maria Marulanda Larsen (New York-Capital Markets) and Robert Giannattasio (New York-Corporate).