Faegre Drinker Advises Underwriter of AI Company Ouster's $200 Million Public Offering

A Faegre Drinker team represented the underwriter, Northland Capital Markets, in AI company Ouster’s $200 million public offering of common stock.

Ouster, Inc. (Nasdaq: OUST), a leader in sensing and perception for physical AI, announced the pricing of an underwritten public offering of 3,621,876 shares of the company's common stock. The shares of common stock were sold at a public offering price of $55.22 per share, before underwriting discounts and commissions. The offering closed on July 6, 2026.

All of the shares in the offering were sold by the company. The gross proceeds to Ouster from the offering were approximately $200 million, before deducting underwriting discounts and commissions and other offering expenses. The company granted the underwriter of the offering a 30-day option to purchase up to an additional 543,281 shares of common stock at the public offering price, less the underwriting discounts and commissions. 

Faegre Drinker advised Northland Capital Markets in the offering. The team was led by Minneapolis partner Jonathan Zimmerman and Philadelphia partner Charles Lange, and included associates Yona Isaacs and David Lee.