Obalon Therapeutics

Canaccord Genuity is pleased to announce that on October 12, 2016, it completed an underwritten initial public offering of common stock for Obalon Therapeutics, Inc. (NASDAQ: OBLN).  The Company issued a total of 5,000,000 shares of its common stock at a price to the public of $15.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 750,000 common shares at the initial public offering price. Obalon intends to use the net proceeds from this offering for the commercialization of its Obalon balloon system, continued research and development efforts and working capital and other general corporate purposes. Canaccord Genuity acted as Joint Bookrunner for the offering.

Obalon Therapeutics, Inc. is a commercial-stage medical device company focused on developing and commercializing innovative medical devices to treat obese and overweight people by facilitating weight loss. The Company offers the Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. Obalon recently received premarket approval from the U.S. Food and Drug Administration to market its balloon system for temporary use to facilitate weight loss in obese adults with a body mass index of 30 to 40. Obalon is based in San Diego, California.