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Beta Bionics Goes Public After Raising $204M Upsized Offering

Shares rise 39% to $23.64 in first hours of trading

Beta Bionics Inc., an Irvine-based medical device company, today began publicly trading on the Nasdaq Capital Market under the ticker BBNX.

The company raised an upsized offering of $204 million by offering 12 million shares of its common stock at $17 apiece after initially planning to raise $114.4 million.

Beta Bionics in late 2023 launched its automated insulin delivery system, the iLet Bionic Pancreas, after it received Food and Drug Administration approval for use in individuals ages six and older with Type 1 Diabetes.

Shares rose 39% to $23.64 and a $975 million market cap within the company’s first three hours of trading.

For further details, see the Feb. 10 print edition of the Business Journal.

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Yuika Yoshida
Yuika Yoshida
Yuika Yoshida has been a reporter covering healthcare, innovation and education at the Orange County Business Journal since 2023. Previous bylines include JapanUp! Magazine and Stu News Laguna. She received her bachelor's degree in literary journalism from the University of California, Irvine. During her time at UC Irvine, she was the campus news editor for the official school paper and student writer for the Samueli School of Engineering. Outside of writing, she enjoys musical theater and finding new food spots within Orange County.
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