Faegre Baker Daniels represented Tactile Systems Technology, Inc., known as Tactile Medical, in its $41.2 million initial public offering . The common stock began trading on the NASDAQ Global Market July 28 under the symbol “TCMD.”
Tactile Medical is a leading developer in treatment options for lymphedema and venous ulcer therapies. Tactile Medical develops advanced home therapy devices to improve the quality of life for patients with chronic swelling conditions. The company is headquartered in Minneapolis.
Piper Jaffray & Co., William Blair & Company, L.L.C. and Canaccord Genuity Inc. acted as joint book-running managers for the offering. BTIG, LLC acted as co-manager for the offering.
Jon Zimmerman, partner in FaegreBD’s corporate practice, led the team representing Tactile Systems, along with Jeff Sherman, Christine Long, Zachary Froelich and Raxit Shah.