Healthcare Companies Lead Last Week’s IPO Activity

​Two healthcare companies led last week’s initial public offering activity, with Inspire Medical Systems and Unity Biotechnology both fetching valuations in the hundreds of millions of dollars. Meanwhile, nVent Electric spun out of Pentair to trade separately.

• nVent Electric spun out of former parent company Pentair on the first of May and is now trading under the ticker symbol NVT on the New York Stock Exchange. nVent is a high-performance electrical company that offers a variety of electrical-related products and applications. The company is based out of St. Louis Park, Minnesota.

• Last Wednesday, Inspire Medical Systems (NYSE: INSP) raised $108 million by going public, selling 6,75 million shares at $16.00 per share. The Maple Grove, Minnesota-based company develops implantable therapeutic systems that are designed to treat obstructive sleep apnea.
  

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• Unity Biotechnology, a Brisbane, California-based developer of small molecule medicines, raised $85 million in its initial public offering last Thursday. The company, trading on the NASDAQ under the ticker UBX, sold a total of five million shares at $17.00 per share. The company’s medicines can potentially halt, slow, or reverse age-associated diseases.