The initial public offering price is expected to be between $20.00 and $23.00 per share. As part of the offering, Bright Health Group intends to grant to the underwriters a 30-day option to purchase up to an additional 7,200,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Bright Health Group intends to list its common stock on the New York Stock Exchange under the symbol “BHG”.
Bright Health Group intends to use the proceeds of the offering to repay all outstanding borrowings under its credit agreement and the remainder for working capital and other general corporate purposes, including continued investments in the growth of its business.
J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are acting as lead joint book-running managers for the proposed offering. BofA Securities, Citigroup and Piper Sandler are acting as additional bookrunners. Nomura and RBC Capital Markets are acting as co-managers for the proposed offering.
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A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Source: Bakersfield
