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Latham & Watkins Advises on Tactile Systems Technology, Inc.’s US$32.5 Million Public Offering of Common Stock

February 24, 2023
Chicago capital markets team represents the underwriter in the offering by the medical technology company.

Tactile Systems Technology, Inc. (Nasdaq: TCMD), a medical technology company focused on developing medical devices for the treatment of patients with underserved chronic diseases at home, has announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a price to the public of US$13.00 per share. The gross proceeds to Tactile Medical from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be US$32.5 million. Additionally, Tactile Medical has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. All of the shares are being offered by Tactile Medical, and the offering is expected to close on or about February 28, 2023, subject to customary closing conditions.

Latham & Watkins LLP represented the underwriter in the offering, with a capital markets team led by Chicago partners Christopher Lueking, Scott Westhoff, and Jonathan Sarna, with associates Omeed Valipour and Matthew Galligan. Advice was also provided on FDA matters by Washington, D.C. partner Elizabeth Richards, with associate Kathryn Culver; on data privacy matters by Bay Area partner Heather Deixler, with associate Jack Chai; on healthcare matters by Bay Area counsel Betty Pang; on intellectual property matters by Bay Area/San Diego partner Christopher Hazuka, with associate Arun Mohan; and on tax matters by Chicago partner Rene de Vera, with associate Joe Gu.