Zhitong Finance learned that Ceribell (CBLL.US) announced IPO terms on Monday, planning to issue 6.7 million shares at a price range of $14 to $16, raising $101 million. Ceribell's fully diluted market capitalization would be $505.4 million at the midpoint of the proposed range. The company's main product is a platform for monitoring patients' seizures using artificial intelligence.

Ceribell is a medical technology company focused on the diagnosis and management of serious neurological diseases, particularly in acute care settings. It developed the Ceribell system, a portable electroencephalogram (EEG) platform that combines artificial intelligence algorithms with easy-to-use hardware to quickly diagnose and continuously monitor patients at risk of seizures. The system addresses the limitations of traditional EEG technology by providing faster and more convenient brain monitoring, improving patient care and reducing healthcare costs. Since its commercialization in 2018, the Ceribell system has been adopted by over 450 accounts and used to care for over 100,000 patients. The company's goal is to establish the Ceribell system as the standard of care for EEG in acute care settings and potentially expand to other neurological diseases in the future.

Ceribell was founded in 2014, and its 12-month sales through June 30, 2024, were $54 million. The company plans to list on the Nasdaq under the symbol CBLL. Bank of America Securities and J.P. Morgan are joint bookrunners for the transaction, which is expected to price in the week of October 7, 2024.