24/7 Market News Snapshot 06 January, 2025 – Outset Medical, Inc. Common Stock (NASDAQ:OM)

January 6, 2025

DENVER, Colo., 06 January, 2025 (247marketnews.com) – (NASDAQ:OM) are discussed in this article.
Outset Medical, Inc. is witnessing a notable surge in its stock, having opened at $1.40 and currently trading at $1.661, reflecting an impressive 18.64% increase in value. This upswing follows the previous day’s close at $1.40, indicative of a strong bullish momentum. Investor interest is palpable, evidenced by trading volume reaching 1.35 million shares. While the stock’s upward trajectory signals potential for further gains, market participants are advised to monitor for possible overbought conditions. A sustained trading level above $1.60 could foster additional upward movement, whereas any decline may find support around $1.45.

In tandem with this favorable market response, Outset Medical has announced forward-looking strategic measures designed to strengthen its financial arsenal and enhance its mission to redefine dialysis care. The company has signed a definitive securities purchase agreement for a private placement of 843,908 shares of its Series A Non-Voting Convertible Preferred Stock at a price of $200 per share. This initiative is anticipated to provide approximately $168.8 million in gross proceeds, subject to stockholder approval. The subsequent conversion of these preferred shares will lead to the issuance of roughly 210 million shares of common stock.

Additionally, Outset has entered into a credit agreement with a fund managed by Perceptive Advisors, securing a $100 million term loan with an option for an extra $25 million. These financial maneuvers aim to fully retire $200 million in existing debt due in 2027, thereby significantly bolstering liquidity. Following the completion of these transactions, the company expects to maintain around $210 million in cash and cash equivalents.

Recent unaudited revenue figures demonstrate Outset’s operational efficacy, with fourth-quarter revenue reported at $29 million and cumulative revenue projected at $113 million for the year ending December 31, 2024, exceeding prior estimates. Leslie Trigg, Chair and CEO, expressed optimism regarding the funding, reaffirming the firm’s dedication to introducing innovative dialysis solutions that enhance patient care.

Related news for (OM)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.