Motus GI closed its initial public offering at $17.5 million, missing its $28.8 million goal, CTech reports.
Here's what you should know:
1. Motus filed its IPO in January hoping to raise $28.8 million.
2. Trading was slated to begin anywhere between $5 to $7, with experts predicting a higher end IPO. After initial returns, Motus cut trading from $6 to $5, reducing the total amount of offered shares from 4.3 million to 3.5 million.
3. Motus is trading under the symbol MOTS.
4. Motus is using the money to commercialize its Pure-Vu colonoscopy preparation system.