Medicare Advantage Insurer Alignment Healthcare Goes Public

Alignment Healthcare Inc. became a publicly traded company on March 30, 2021, when it closed its initial public offering of 27,200,000 shares of its common stock at $18.00 per share. The company intends to use the proceeds of the offering for working capital and general corporate purposes, including continued investments in the growth of its business, and strengthening its balance sheet by potentially repaying debt.

The company was founded in 2013. It offers an artificial-intelligence-enabled Medicare Advantage plan. By the end of 2020, it had 68,323 members, up 38.5% over 2019 enrollment. Alignment . . .