Butterfly Network slides on stock offering launch

Butterfly Network

29/01/2025 22:17

**  Shares of digital health firm Butterfly Network  BFLY.N 
down 10% at $3.16 in extended trading as it seeks equity
  
    ** Burlington, Massachusetts-based co  stock offering; deal
size not disclosed
  
    ** It plans to use net proceeds to fund 
  
    ** TD Cowen, William Blair and Lake Street are bookrunners
    
  
    ** Co has ~213 mln shares outstanding for roughly $750 mln
market cap, and ~156 mln shares of public float, per LSEG
  
    ** BFLY on Weds closed down 2.8% at $3.51
  
    ** Shares up 12.5% YTD and have more than tripled over the
past six months
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))