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iRhythm Technologies Announces Closing of Follow-on Public Offering and Full Exercise of the Underwritersa?? Option to Purchase Additional Shares

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SAN FRANCISCO, Aug. 21, 2020 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, announced today the closing of its underwritten public offering of 1,257,142 shares of its common stock at a public offering price of $175.00 per share, which included the exercise in full of the underwritersa?? option to purchase 163,975 additional shares of common stock on the same terms and conditions. All of the shares were offered for sale by iRhythm Technologies. Gross proceeds from the offering to iRhythm Technologies were approximately $220 million, before deducting underwriting discounts and commissions and other offering expenses payable by iRhythm Technologies.J.P. Morgan and Morgan Stanley served as joint lead book-running managers for the offering.A  Citigroup, Truist Securities and William Blair acted as co-managers.A Registration statements for the offering to which this press release relates have been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the SEC). The final prospectus relating to the offering is available for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, copies may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: (866) 803-9204, or via email: prospectus-eq_fi@jpmorgan.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About iRhythm Technologies, Inc.
iRhythm is a leading digital health care company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change clinical management of patients.
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