Mobia Medical’s $150 Million IPO

Cleary Gottlieb represented the underwriters in Mobia Medical Inc.’s (Mobia Medical) $150 million initial public offering.

Mobia Medical offered 10 million of its shares of common stock at an initial offering price of $15 per share. In addition, Mobia Medical granted the underwriters a 30-day option to purchase up to an additional 1.5 million of its shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The offering priced on May 7, 2026, and closed on May 11, 2026. Mobia Medical’s common shares began trading on the Nasdaq Global Select Market on May 8, 2026, under the ticker symbol, “MOBI.”

Mobia Medical is a commercial-stage medical device company redefining stroke recovery for survivors living with life-altering motor impairments. The company’s Vivistim Paired VNS System is the first and only clinically validated, FDA-approved implantable solution designed to improve upper limb function in chronic ischemic stroke survivors with moderate to severe upper extremity impairments.

For more information, please see the press release.

The Cleary capital markets team included partners Ilir Mujalovic, Harald Halbhuber, and Lesley Janzen, and associates Katherine Hebb, Marc Chien, and Saleh Ismail. Counsel Jonathan Gifford and associate Banu Dzhafarova advised on tax matters. Partner Michael Albano and associate Wil Steebs advised on executive compensation matters. Partner Daniel Ilan and associates Samantha Simmons and Lara Castellino advised on intellectual property matters.