Signify Health, Inc., a leading value-based health care platform that leverages advanced analytics, technology and nationwide health care provider organization networks, announced the closing of its initial public offering of 27,025,000 shares of its Class A common stock at a price to the public of $24.00 per share. Signify Health received net proceeds of approximately $609.7 million after deducting underwriting discounts and commissions, and before deducting offering expenses. The net proceeds from the initial public offering will be used to pay fees and expenses in connection with the offering and the related reorganization transactions and for general corporate purposes, including working capital and potential acquisitions of, or investments in, other businesses or technologies that the Company believes will complement the current business and expansion efforts.
The number of shares offered and sold by Signify Health included the exercise in full of the underwriters’ option to purchase up to an additional 3,525,000 shares of Class A common stock from Signify Health. Signify Health’s Class A common stock began trading on the New York Stock Exchange (NYSE) on February 11, 2021, under the ticker symbol SGFY.
Goldman Sachs & Co. LLC, J.P. Morgan, Barclays and Deutsche Bank Securities acted as lead bookrunner agents for the offering. Bank of America Securities, UBS Investment Bank, Baird, Piper Sandler and William Blair acted as additional bookrunners.
Signify Health is a leading health care platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. The company’s mission is to transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home. The company’s solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings.
This was reported by Signify Health on February 16, 2021.
Contact information: Lynn Shepherd, Vice President of Communications, Signify Health, 4055 Valley View Ln, Ste 400, Dallas, Texas 75244; 972-715-3800; Email: email@example.com; Website: https://www.signifyhealth.com/