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Highlights
- Nuvo Group has kept the price range of its ordinary shares between US$ 14 to US$ 16 per share.
- Nuvo IPO is attracting investors’ attention as it is planning to go public on the NYSE.
- The healthcare company is looking to generate gross proceeds and use them to fund research and development activities.
Nuvo Group Ltd., a pregnancy care management company has caught the attention of investors in North American markets after it recently announced terms for its initial public offering (IPO) plans.
Nuvo is involved in the development of a remote platform to enable people to get access to medical-grade data in the pregnancy care ecosystem.
Nuvo Group has kept the price range of its ordinary shares between US$ 14 to US$ 16 per share. If the shares are sold at US$ 15 apiece, then Nuvo will receive around US$ 16.3 million in gross proceeds.
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Also, if the underwriters exercise their option to buy additional shares, then the gross proceeds are expected to increase up to US$ 17.7 million.
Nuvo IPO: Key details
According to the investment prospectus filed with the US Securities and Exchange Commission, the pregnancy care platform is looking to sell 666,667 shares through the initial public offering.
Nuvo wants to make its public debut on the New York Stock Exchange (NYSE) and has applied to get NUVO as its stock symbol. Investors who are looking to buy the NUVO stock will have to wait for the healthcare company to go public as it continues to remain private.
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You can buy the stock after it starts trading on the NYSE or find out a trading platform of a brokerage company that is allowing retail investors to register to get hold of the pre-IPO stock.
The healthcare company is looking to generate gross proceeds and use them to fund research and development activities for its INVU platform.
Bottom line
Nuvo has recently commercialized the INVU platform, and it is a hybrid hardware and software system. INVU provides remote access to all stakeholders in the pregnancy care market.
The Israel-based company has got clearance by the Food and Drug Administration (FDA) for limited monitoring capabilities.
According to the Data Bridge Market Research report, the global pregnancy market is expected to register growth between 2021 to 2028 and during this period, this market will register a compound annual growth rate (CAGR) of 5.3 per cent.
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