Inovalon Announces Pricing for Initial Public Offering

12 Feb 2015

Inovalon, a leading technology company providing advanced cloud-based data analytics and data-driven intervention platforms to the health care industry, announced the pricing of its initial public offering of 22,222,222 shares of its Class A common stock at a price to the public of USD 27 per share, USD 1 above the filing range of USD 24 to USD 26. In addition, Inovalon has granted the underwriters a 30-day option to purchase up to 3,333,333 additional shares of Class A common stock at the initial public offering price. The shares are expected to begin trading on the NASDAQ Global Select Market on Feb. 12, 2015, under the ticker symbol INOV.

Goldman, Sachs & Co., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. are acting as joint lead book-running managers, BofA Merrill Lynch and UBS Investment Bank are also acting as book-running managers for the offering. Robert W. Baird & Co., Piper Jaffray & Co., Wells Fargo Securities, LLC and William Blair & Company, LLC are acting as co-managers.

Source: Dion Global Type: IPO Related

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