Inari Medical increases shares it sold in IPO, which priced above the expected range

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Inari Medical Inc. increased that number of shares it was selling in its initial public offering, which priced late Thursday above the expected range. The Irvine, Calif.-based company, which develops medical devices for patients suffering from venous diseases, offered 8.2 million shares in the IPO, up from 7.33 million. The IPO priced at $19 a share, above the expected range of $17 to $18 a share, which was raised early Thursday from a previous expected range of $14 to $16. The company raised $155.85 million in the IPO. The stock is expected to begin trading on the Nasdaq exchange Friday. BofA Securities and Morgan Stanley are the joint lead bookrunning managers for the offering. The company is going public at a time that the Renaissance IPO ETF has gained 2.2% over the past three months while the S&P 500 has lost 11.7%.