Foley Hoag’s Capital Markets group advised Butterfly Network, Inc. (NYSE: BFLY), a digital health company, in the registered offering of 27.6 million shares of its Class A common stock at a public offering price of $3.15 per share, inclusive of the underwriters’ option to purchase additional shares. The gross proceeds to Butterfly Network from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $86.9 million. 

Butterfly Network intends to use the net proceeds from the offering to fund the development and commercialization of new and existing products and services, as well as for general corporate purposes.

TD Cowen, William Blair and Lake Street Capital Markets were the bookrunners for the offering.
Butterfly Network is a digital health company that manufactures portable, semiconductor-based ultrasound technology and intuitive software. 

Foley Hoag attorneys Stacie Aarestad, Ryan Rourke Reed, Samita Ali-Khan, Caroline Samp, Adrian Maraziti, Sophia Al-Khamis, Markus Louis and William Holt guided Butterfly Network on the offering.

Read more about the offering here.