Health Insurer Bright Health Raised $924 Million During Its Initial Public Stock Offering

After going public on June 24, 2021, in an initial public stock offering (IPO) Bright Health announced the IPO raised net proceeds totaling $880 million. Between June 24 when the IPO opened, and June 28 when it closed, Bright Health offered 51 million shares at $18 each. It anticipated raising $924 million. Bright Health intends to use part of IPO funds to repay $200 million in debt. The remainder will be used for working capital and continued growth investments.

Bright Health is a national integrated health care platform offering diversified health products and managed care services to approximately 623,000 . . .