ROBOTIC HAIR TRANSPLANT DEV RESTORATION ROBOTICS RAISES $25 MILLION IN IPO
Robotic hair restoration company Restoration Robotics raised $25 million in an initial public offering and saw its shares rise nearly 40% after its debut, according to a Silicone Valley Business Journal report.
The 91-person company, co-founded by surgical robotics pioneer Fred Moll, sold 3.6 million shares at $7 each, then proceeded to open at $8.55 per share today, up 22% from its IPO price, according to the report.
So far today, the company has seen shares rise 38%, at $9.66 as of 2:06 p.m. EDT.
The company produces the Artas robotic system, an image-guided, physician-assisted system designed to harvest follicular units for hair transplantation procedures. The system received FDA 510(k) approval in 2011 after providing results from clinical studies that showed the system to be safe and effective.
The system also has regulatory clearance in Canada and CE Mark approval in the European Union.
Restoration Robotics IPO gave it a market valuation of approximately $224 million, which is about 25% higher than the valuation it received in August when it raised $24 million, the Business Journal reports.
Contributed by Fink Densford from The Robot Report
Popular & Recent News
Mar 25, 2019
The newest generation of wireless networking—5G—is almost here! As...
Jan 5, 2018
By: William Studebaker, President & CIO, ROBO Global There’s ne...
Jun 21, 2019
At the local Neighborhood Market in Levittown, New York, customers are...
Jun 13, 2019
If you have yet to jump on the Westworld bandwagon, you’re missing o...
Recent White Papers
Apr 10, 2019
Q1 2019 marked a banner first quarter for robotics, automation and AI ...
Apr 8, 2019
In March, I was treated to a personal tour of Materialise’s main fac...
- 3D Printing
- Additive Manufacturing
- Advisory Committee
- Companion Robots
- ESG investing
- ESG policy
- Investment strategy
- life sciences
- Precision Agriculture
- Robo Global Index News
- Spotlight Article