Medical technology company Nanox completed a successful initial public offering (IPO) on August 21, with the company's shares finishing up over 20%.
Nanox is developing a futuristic x-ray image acquisition device and cloud-based software for analyzing images. The company's goal is to place its systems in rural areas and developing countries that may not have access to advanced medical imaging technology.
The company said the IPO was to raise funds to further commercialize its technology, and it priced the shares at $18. The stock finished its first day of trading on August 21 at a closing price of $21.70, representing a gain for the day of 20.6%, according to an article on TechCrunch. The company raised $165.2 million in the IPO.
