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Investor Alert

Oct. 20, 2021, 9:05 a.m. EDT

AirSculpt Technologies sets IPO price range at $15 to $17 a share

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.

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