Latham & Watkins Advises CeriBell on Upsized IPO

CeriBell, Inc. (Nasdaq: CBLL) (Ceribell), a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions, has announced the pricing of its upsized initial public offering of 10,606,060 shares of its common stock at a public offering price of US$17 per share. In connection with the offering, Ceribell has granted the underwriters a 30-day option to purchase up to an additional 1,590,909 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on October 11, 2024, under the ticker symbol “CBLL.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ceribell, are expected to be approximately US$180.3 million, excluding any exercise of the underwriters' option to purchase additional shares. The closing of the offering is expected to occur on October 15, 2024, subject to satisfaction of customary closing conditions.

Latham & Watkins is advising CeriBell in the offering with a corporate deal team led by Bay Area partners Kathleen Wells, John Williams, and Richard Kim, with associates Raul Gonzalez-Casarrubias, Chelsi DeTurk, and Tyler Israel. Advice was also provided on FDA/healthcare regulatory matters by Washington, D.C. partners and Ben Haas and Eric Greig, and Bay Area partner Betty Pang, with associate Seth Olson; on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett; on tax matters by Bay Area partner Grace Lee, with associate Dennis Poehland; on benefits and compensation matters by Bay Area partner Ashley Wagner, with associate Julia Lee; and on IP matters by associates Mizuna Sekine and Patrick Chew.