Healthcare Devices and Supplies | Carlsbad, CA | IPO
Obalon Therapeutics (NASDAQ: OBLN) has raised $75 million after selling 5 million shares in its IPO on Thursday. The medical device company priced shares at $15 apiece; trading opened at $15.21 per share but evened out as the day went on and closed back at $15. Founded in 2008, Obalon is the developer of non-surgical gastric balloon technology designed for weight loss. The company has raised about $83.5 in venture funding, most recently a $30 million round in 2015, from investors including Domain Associates (34.6% pre-IPO stake), InterWest Partners (21%) and Okapi Venture Capital (7.7%).