Brainsway to Start Trading on Nasdaq Wednesday

Israeli medical device company Brainsway Ltd. will start listing its American Depositary Shares on Nasdaq Wednesday, the company announced in a filing to the Tel Aviv Stock Exchange earlier that day. The company announced its intention to list on the American exchange in January.

Founded in 2003 with offices in Jerusalem and the U.S., Brainsway develops headsets that use magnetic stimulation to treat brain disorders. The company expects to raise $27.5 million in its initial offering, which will close on April 22. Brainsway has provided its underwriters with the option of purchasing up to 375,000 additional shares within 30 days in case of over-allotments.