NEW YORK (TheStreet) -- Shares of Entellus Medical (ENTL) are up 21.16% to $20.60 as the medical technology company begins trading on the NASDAQ Global Market after pricing its initial public offering at $17 per share.
The Minneapolis, MN-based company announced yesterday the pricing of its IPO of 4,603,580 shares of its common stock at $17 per share, before underwriting discounts and commissions.
Additionally, Entellus Medical said it has granted underwriters a 30-day option to purchase up to an additional 690,537 shares of common stock at the same price. The offering is expected to close on February 3.
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Entellus Medical focuses on products for the "minimally invasive" treatment of chronic and recurrent sinusitis patients in the physician office setting or operating room.
About 3.17 million shares changed hands by 12:10 p.m. in New York.