HeartFlow prices upsized IPO at $19 per share on NASDAQ

HeartFlow Inc. (NASDAQ: HTFL) priced its initial public offering at $19.00 per share for 16,666,667 shares of common stock, according to a company statement. The Mountain View, California-based company expects gross proceeds of approximately $316.7 million before underwriting discounts and other offering expenses.

The company granted underwriters a 30-day option to purchase up to 2,500,000 additional shares at the IPO price, less underwriting discounts and commissions. Trading on the Nasdaq Global Select Market under ticker symbol "HTFL" is expected to begin August 8, 2025, with the offering closing anticipated for August 11, 2025.

J.P. Morgan, Morgan Stanley and Piper Sandler serve as joint book-running managers for the offering, while Stifel and Canaccord Genuity act as co-managers.

The U.S. Securities and Exchange Commission declared the company's Form S-1 registration statement effective on August 7, 2025. HeartFlow develops AI technology for coronary artery disease diagnosis and management.

The company's platform, HeartFlow One, provides non-invasive coronary care analysis including Roadmap Analysis, FFRCT Analysis and Plaque Analysis. According to the company statement, HeartFlow has supported clinicians in managing over 400,000 patients worldwide and its platform is backed by more than 600 peer-reviewed publications.

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