IPO - Beta Bionics, Inc

Form Type: 424B4

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: New

Accession Number: 000119312525017676

Filing Summary: Beta Bionics, Inc. is conducting an initial public offering (IPO) of 12,000,000 shares of its common stock at an initial offering price of $17.00 per share. The company is also offering underwriters an option to purchase an additional 1,800,000 shares for overallotments. The IPO is projected to generate total proceeds before expenses of approximately $189.72 million. A concurrent private placement is planned with Wellington Hadley Harbor Aggregator IV, L.P. for 1,000,000 shares at the offering price. The document provides insights into the company's product, the iLet Bionic Pancreas, which is designed to manage diabetes with minimal user intervention. The iLet has received FDA clearance for patients aged six and older with type 1 diabetes (T1D). Results from clinical trials demonstrate that the iLet substantially improves glycemic control compared to current treatments. The overall revenue opportunity for the T1D insulin pump market in the U.S. is estimated at $6 billion, targeting both existing users and potential new adopters. The company aims to simplify diabetes management and increase pump adoption among patients traditionally using multiple daily injection (MDI) therapies.

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Form Type: 8-K

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: New

Accession Number: 000119312525018471

Filing Summary: On January 31, 2025, Beta Bionics, Inc. completed its initial public offering (IPO) of common stock, which involved the sale of 13,800,000 shares at a public offering price of $17.00 per share. This total includes an additional 1,800,000 shares purchased by underwriters. The gross proceeds from the IPO, including the exercise of the underwriters' option, amount to $229.1 million before any deductions. Concurrently, the Company also closed a Private Placement where 1,000,000 shares of common stock were sold to an existing stockholder at the same IPO price of $17.00, generating proceeds also included in the total. Both the amended and restated certificate of incorporation and bylaws were filed in connection with the IPO, and the documents were approved by the board and stockholders prior to the closing. A press release detailing these transactions was also issued on the same day.

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Form Type: S-1MEF

Filing Date: 2025-01-29

Corporate Action: Ipo

Type: New

Accession Number: 000119312525015945

Filing Summary: Beta Bionics, Inc. is filing a Registration Statement on Form S-1MEF under the Securities Act of 1933 to register an additional 2,300,000 shares of common stock following a prior registration statement (File No. 333-284147) that became effective on January 29, 2025. Of these, 300,000 shares are subject to an underwriters' option. The company is currently classified as a non-accelerated filer, smaller reporting company, and an emerging growth company, opting not to use the extended transition period for new financial accounting standards. This registration aims to support the sale of these shares as soon as practicable once the filing is effective. The registration includes opinions and consents from legal and accounting firms, indicating compliance with applicable regulations.

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Form Type: CORRESP

Filing Date: 2025-01-28

Corporate Action: Ipo

Type: New

Accession Number: 000119312525014241

Filing Summary: Beta Bionics, Inc. has submitted a request for the acceleration of the effective date of its Registration Statement on Form S-1, which was filed on January 23, 2025. The company, represented by several underwriters including BofA Securities, Inc., Piper Sandler & Co., and Leerink Partners LLC, seeks to have the Registration Statement declared effective at 4:00 p.m. Eastern Time on January 29, 2025, or as soon thereafter as possible. The underwriters have committed to ensuring adequate distribution of the preliminary prospectus to relevant parties prior to the requested effective time, in compliance with applicable rules under the Securities Act and the Securities Exchange Act of 1934.

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Form Type: S-1/A

Filing Date: 2025-01-28

Corporate Action: Ipo

Type: New

Accession Number: 000119312525013987

Filing Summary: Beta Bionics, Inc. is initiating an initial public offering (IPO) of 10,000,000 shares of common stock, with a price expected between $16.00 and $17.00 per share. The underwriters have an option to purchase an additional 1,500,000 shares at the offering price. Prior to this offering, Beta Bionics' common stock has not been publicly traded. The company aims to list its stock on the Nasdaq Global Market under the symbol 'BBNX.' The offering is anticipated to commence soon after the registration statement is declared effective. Beta Bionics is recognized as an 'emerging growth company' and a 'smaller reporting company.' The company’s product, the iLet Bionic Pancreas, has been FDA-cleared and targets insulin-requiring individuals, specifically those with type 1 diabetes. Observations indicate that the product significantly simplifies diabetes management through its adaptive closed-loop algorithms that autonomously deliver insulin without user input on carbohydrate intake, which is expected to improve glycemic control and compliance. Furthermore, concurrent with the IPO, Beta Bionics has entered into a Common Stock Purchase Agreement for approximately $17.0 million with Wellington Hadley Harbor Aggregator IV, L.P., contingent upon the IPO's completion.

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Form Type: 8-A12B

Filing Date: 2025-01-27

Corporate Action: Ipo

Type: New

Accession Number: 000119312525013413

Filing Summary: Beta Bionics, Inc. is filing a Form 8-A12B for the registration of its common stock with a par value of $0.0001 per share. This form is filed under Section 12(b) of the Securities Exchange Act of 1934 and is in connection with their Registration Statement on Form S-1, which was initially filed on January 6, 2025. The common stock is intended to be listed on The Nasdaq Stock Market LLC. The filing confirms that no other classes of securities are being registered at this time, and therefore no exhibits are required for this registration. The document was signed on January 27, 2025, by Sean Saint, the President and CEO of Beta Bionics, Inc., in compliance with the regulations.

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Form Type: CORRESP

Filing Date: 2025-01-23

Corporate Action: Ipo

Type: Update

Accession Number: 000119312525011510

Filing Summary: On January 23, 2025, Beta Bionics, Inc. submitted a response letter to the U.S. Securities and Exchange Commission regarding comments received on their Amendment No. 1 to the Registration Statement on Form S-1, which was filed on January 22, 2025. The response addresses specific comments from the SEC staff and indicates that the company is concurrently filing Amendment No. 2 to the Registration Statement. The letter outlines the company's revisions made to its disclosures, including the reinstatement of footnotes to clarify key metrics and corrections of typographical errors, as discussed in the SEC's Comment Letter. The response also includes references corresponding to specific comments from the staff, ensuring a detailed clarification on previous inquiries.

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Form Type: S-1/A

Filing Date: 2025-01-23

Corporate Action: Ipo

Type: New

Accession Number: 000119312525011507

Filing Summary: Beta Bionics, Inc. is conducting an initial public offering (IPO) to sell 7,500,000 shares of common stock, with an underwriters' option for an additional 1,125,000 shares. The anticipated price range for the shares is $14.00 to $16.00. The iLet Bionic Pancreas is highlighted as an innovative device for diabetes management, featuring FDA clearance for its advanced adaptive closed-loop algorithms, which allow it to autonomously determine insulin doses based solely on the user’s body weight. The company is classified as an emerging growth and smaller reporting company. Financially, the company has seen revenue growth, achieving $16.7 million by September 30, 2024. Concurrently, a private placement agreement with Wellington Hadley Harbor Aggregator IV for $17 million in shares is planned to close with the IPO. The offering aims to capitalize on the estimated $6 billion market for insulin pumps, addressing the needs of a significant number of individuals managing diabetes.

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Form Type: S-1/A

Filing Date: 2025-01-22

Corporate Action: Ipo

Type: New

Accession Number: 000119312525009915

Filing Summary: Beta Bionics, Inc. is conducting an initial public offering (IPO) of 7,500,000 shares of common stock, with an additional option for underwriters to purchase up to 1,125,000 shares. The expected price range for the shares is between $14.00 and $16.00. This offering aims to establish a public market for their stock, as there has not been one prior. The company is classified as a 'non-accelerated filer', 'smaller reporting company', and 'emerging growth company'. The revenue from sales has shown significant growth since the commercial launch of their main product, the iLet Bionic Pancreas, which received FDA clearance in May 2023. The company's total addressable market for insulin pumps is estimated at approximately $6 billion, and they believe the iLet may facilitate broader adoption of insulin delivery technology. The registration is aimed at commencing public sales as soon as practicable after being declared effective by the SEC.

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Form Type: CORRESP

Filing Date: 2025-01-10

Corporate Action: Ipo

Type: New

Accession Number: 000119312525004643

Filing Summary: Beta Bionics, Inc. submitted a supplemental letter to the U.S. Securities and Exchange Commission (SEC) regarding its Registration Statement on Form S-1 in response to previous comments from the SEC staff. The letter addresses concerns regarding the determination of the fair value of the common stock underlying equity issuances, particularly in view of the ongoing IPO process expected to commence. The company advises that shares of its Class B common stock will convert into common stock prior to the IPO, establishing a direct correlation between the equity awards and common stock. The preliminary estimated IPO price range is mentioned as approximately $[***] to $[***] per share, though the document emphasizes the non-reflective nature of this range due to expected reverse stock splits and current liquidity scenarios. A detailed summary of stock option grants and valuations from 2024 highlights the company's complexities in determining fair stock value, including methodologies such as the Option Pricing Method (OPM) and Probability-Weighted Expected Return Method (PWERM). The historical valuation practices leading up to the IPO are characterized by ongoing adjustments based on various factors including market conditions and peer comparisons, alongside expectations of achieving a successful IPO process and the strategic significance of stock-based compensation methods during this preparatory phase.

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Form Type: S-1

Filing Date: 2025-01-06

Corporate Action: Ipo

Type: New

Accession Number: 000119312525002177

Filing Summary: Beta Bionics, Inc. is registering for an initial public offering (IPO) of their common stock. The company aims to sell shares to the public following the effectiveness of this registration. The iLet Bionic Pancreas, cleared by the FDA in May 2023, represents a significant advancement in diabetes management technology, allowing for autonomous insulin delivery without the need for carbohydrate counting. The addressable market for insulin pumps in the U.S. is estimated at $6 billion, with Beta Bionics targeting both existing pump users and those currently using multiple daily injections for insulin. Financial results indicate rapid growth in revenue, alongside strategic investments leading to operational losses. The iLet has shown positive clinical outcomes, reducing average blood glucose levels compared to current treatment regimens, and the market opportunity is deemed substantial with an emerging growth company status. The current offering aims to meet listing standards on the Nasdaq under the symbol 'BBNX'.

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Form Type: DRS/A

Filing Date: 2024-12-16

Corporate Action: Ipo

Type: New

Accession Number: 000095012324012261

Filing Summary: Beta Bionics, Inc. has filed an Amendment No. 3 to its Draft Registration Statement for the initial public offering (IPO) of its common stock. This registration statement is under the Securities Act of 1933 and includes details on the company's principal product, the iLet Bionic Pancreas, which is an FDA-cleared insulin delivery device utilizing adaptive closed-loop algorithms for diabetes management. The offering is aimed at individuals with type 1 diabetes and intends to simplify insulin dosage without the need for carbohydrate counting. The company highlights its substantial market opportunity with an estimated total addressable market of around $6 billion in the U.S. for insulin pumps, identifying two subpopulations: current pump users and potential new adopters who currently rely on multiple daily injections. The company is categorized as a non-accelerated filer and an emerging growth company. Concerns regarding market size assumptions are acknowledged. Prior financial results indicate rapid revenue growth exceeding five times since the product's commercial launch. Risk factors associated with the IPO process are being detailed in the document.

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Form Type: DRS/A

Filing Date: 2024-11-25

Corporate Action: Ipo

Type: New

Accession Number: 000095012324012075

Filing Summary: Beta Bionics, Inc. is filing Amendment No. 2 to its draft registration statement, not yet publicly filed, for its initial public offering (IPO) under Form S-1. The company, incorporated in Delaware, focuses on the development of the iLet Bionic Pancreas, which is the first FDA-cleared insulin delivery device to utilize adaptive closed-loop algorithms. The iLet is designed to simplify diabetes management by autonomously determining insulin doses based solely on the user’s body weight, without requiring carbohydrate counting. The IPO intends to raise capital for further commercialization of their product aimed at type 1 diabetes patients. The document discusses the significant unmet needs in current diabetes management technologies and presents statistical data regarding the market potential and performance of the iLet compared to existing systems. Beta Bionics emphasizes its growth trajectory with revenues increasing significantly post-launch and aims to capture a substantial share of the $6 billion U.S. insulin pump market. This includes targeting both current insulin pump users and the larger segment of patients using multiple daily injection (MDI) therapy who may benefit from transitioning to pump therapy. The registration statement highlights both the risks associated with investing, due to potential market competition and regulatory challenges, as well as the clinical validation of the safety and effectiveness of the iLet through comprehensive trials.

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Form Type: DRS/A

Filing Date: 2024-10-28

Corporate Action: Ipo

Type: New

Accession Number: 000095012324009933

Filing Summary: Beta Bionics, Inc. is filing Amendment No. 1 to its draft registration statement for the initial public offering (IPO) of its common stock, seeking to sell shares following the effectiveness of the registration statement. The company has developed the iLet Bionic Pancreas, an innovative insulin delivery device with FDA clearance aimed at simplifying diabetes management through adaptive closed-loop algorithms. The iLet is designed to determine insulin delivery autonomously without requiring carbohydrate counting, significantly improving user experience. As a smaller reporting company and emerging growth company, Beta Bionics is subject to reduced disclosure requirements. The filing indicates that while the product is cleared for use in patients aged six and older with type 1 diabetes, the IPO aims to capitalize on a substantial market opportunity projected at approximately $6 billion, targeting both existing pump users and potential new adopters. The prospective date for selling shares is contingent upon the registration statement's effectiveness.

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Form Type: DRS

Filing Date: 2024-09-13

Corporate Action: Ipo

Type: New

Accession Number: 000095012324009228

Filing Summary: Beta Bionics, Inc. is filing this registration statement for an initial public offering (IPO) of common stock. The company is engaged in the design, development, and commercialization of innovative solutions for insulin-requiring individuals with diabetes. Their flagship product, the iLet Bionic Pancreas, represents a significant advancement in insulin delivery technology, being the first device approved by the FDA to autonomously determine insulin doses using adaptive closed-loop algorithms. The IPO aims to raise funds for further development and commercialization of the iLet, targeting the substantial insulin pump market estimated at $6 billion. The registration highlights Beta Bionics' commitment to addressing the unmet needs of diabetes patients, focusing on ease of use and effective blood sugar management. The offering is contingent upon listing on a recognized exchange, and additional details on the anticipated share price and offering size are expected to be finalized before the actual public sale.

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