MiniMed Prices Below Range, Debuts on Nasdaq with $5.3 Billion Valuation
MiniMed, the diabetes unit spun out from Medtronic, began trading on Nasdaq on March 6 with shares opening 4.8% below the $20 offer price, implying a $5.3 billion valuation. The company raised $560 million by selling 28 million shares at $20 each, below the previously marketed $25 to $28 range. Broader market concerns, including AI-related volatili…