Fenwick Represents Obalon Therapeutics in its $75 Million Initial Public Offering

Fenwick & West represented Obalon Therapeutics, Inc., (NASDAQ: OBLN), a commercial-stage medical device company focused on developing and commercializing innovative medical devices to treat obese and overweight people by facilitating weight loss, in its initial public offering of 5,000,000 shares of its common stock at a price to the public of $15.00 per share. As part of the offering, Obalon granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the offering price.

UBS Investment Bank, Canaccord Genuity and Stifel acted as joint book-running managers for the offering. BTIG acted as a co-manager.

The Fenwick transaction team included corporate partners Robert Freedman and Matthew Rossiter, and associates Amanda Rose, Can Sun, and Shiva Mirzanian.


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