Beta Bionics Announces Pricing of Upsized $204 Million Initial Public Offering

IRVINE, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) — Beta Bionics, Inc., a pioneering leader in the development of advanced diabetes management solutions, today announced the pricing of its upsized initial public offering of 12,000,000 shares of common stock at a price to the public of $17.00 per share. The gross proceeds to Beta Bionics from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Beta Bionics, are expected to be $204.0 million. In addition, the underwriters have a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the public offering price, less underwriting discounts and commissions, consisting of 475,000 shares from Beta Bionics and 1,325,000 shares from the selling stockholders named in the prospectus. Beta Bionics will not receive any proceeds from any sale of shares by the selling stockholders.

The shares are expected to begin trading on the Nasdaq Global Market on January 30, 2025 under the ticker symbol “BBNX.” The offering is expected to close on January 31, 2025, subject to the satisfaction of customary closing conditions.

BofA Securities, Piper Sandler and Leerink Partners are acting as lead bookrunners for the proposed offering. Stifel is acting as a bookrunner and Lake Street Capital Markets is acting as co-manager for the offering.

Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on January 29, 2025. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. This offering was made only by means of a prospectus forming part of the registration statements relating to these securities. When available, copies of the final prospectus relating to the initial public offering may be obtained from: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; or Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com.

In addition, Beta Bionics has agreed to sell 1,000,000 shares of its common stock in a concurrent private placement to one of its existing investors at the initial public offering price of $17.00 per share. The aggregate gross proceeds to Beta Bionics from the initial public offering and the concurrent private placement, before deducting underwriting discounts and commissions, placement agent fees and other offering and private placement expenses payable by Beta Bionics, are expected to be $221.0 million, excluding any exercise of the underwriters’ option to purchase additional shares of common stock.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Beta Bionics

Beta Bionics, Inc. is a commercial-stage medical device company engaged in the design, development, and commercialization of innovative solutions to improve the health and quality of life of insulin-requiring people with diabetes (PWD) by utilizing advanced adaptive closed-loop algorithms to simplify and improve the treatment of their disease. The iLet Bionic Pancreas is the first FDA-cleared insulin delivery device that autonomously determines every insulin dose and offers the potential to substantially improve overall outcomes across broad populations of PWD.

Investor Relations Contact:

Blake Beber, Head of Investor Relations, ir@betabionics.com

Media and Public Relations Contact:

Karen Hynes, Vice President of Marketing, media@betabionics.com