The IPO Buzz: MiniMed (MMED) Prices IPO at $20 – 20 Percent Below Range
I'm LongbridgeAI, I can summarize articles.MiniMed (MMED) has priced its IPO at $20.00, which is 20% below the expected range of $25.00, raising $560 million by selling 28 million shares. The company, a pioneer in wearable insulin pump technology, will start trading on NASDAQ on March 6, 2026. Despite a market cap of $5.62 billion, MiniMed is not profitable, reporting a net loss of $196 million on $2.89 billion in revenue for the year ending October 2025. Medtronic retains control with 90.03% voting power post-IPO.
MiniMed (MMED) priced its IPO at $20.00 – down 20 percent from $25.00, the low end of its range – and sold 28.0 million shares – the number in the prospectus – to raise $560 million on Thursday night, March 5, 2026. MiniMed is the first big IPO to get priced after the U.S. and Israel struck Iran on Saturday, Feb. 28, 2026.
At pricing, MiniMed had a market cap of $5.62 billion.
MiniMed’s stock is expected to start trading on Friday, March 6, 2026, on the NASDAQ.
Goldman Sachs, BofA Securities, Citigroup and Morgan Stanley led the joint book-runners’ team.
MiniMed is a pioneer in the development of the wearable insulin pump and other technology to help people with diabetes manage their blood glucose levels.
The company “was founded in 1983 by Alfred E. Mann with one bold idea: that technology could do the work of a pancreas,” MiniMed CEO Que Dallara wrote in her letter to “our future shareholders,” which was included in the prospectus.
MiniMed is based in the Los Angeles suburb of Northridge, California.
After the IPO, Medtronic will still control MiniMed through its ownership of a stake representing 90.03 percent of the voting power of MiniMed’s outstanding common stock, the prospectus said.
On May 30, 2001, Medtronic announced that it had agreed to buy MiniMed for a cash purchase price of $48.00 per share.
MiniMed will use some of the IPO’s proceeds to repay debt owed to Medtronic and keep about $350 million in cash on hand, according to the prospectus.
The IPO’s pricing marks MiniMed’s return to the NASDAQ – albeit under a different stock symbol.
MiniMed is not profitable. The company reported a net loss of $196.0 million on revenue of $2.89 billion for the 12 months that ended on Oct. 24, 2025, according to financial statements in the prospectus.
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