AirSculpt Technologies Inc. on Wednesday could raise about $160 million in its upcoming initial public offering, based on the midpoint of its estimated price range of $15 to $17 a share and 10 million shares in the offering. The company will raise about $26.6 million by offering 1.56 million shares, and selling shareholders will draw in $143.4 million of the total proceeds. AirSculpt Technologies will have 55.4 million shares outstanding after it goes public, with a market cap of $886 million based on a share price of $16. AirSculpt, which specializes in fat removal through a minimally invasive process, reported net income of $16.7 million on revenue of $61 million in the six months ended June 30, compared to a net loss of $908,000 and revenue of $22.1 million in the year-ago period. Vesey Street Capital Partners will own 47% of the company once it goes public, according to its IPO prospectus. Morgan Stanley, Piper Sandler and SVB Leerink are the lead underwriters out of five banks working on the deal.
Oct. 20, 2021, 9:05 a.m. EDT