This year, more than $44 billion has been raised in 131 offerings, including those by so-called blank check companies, according to data compiled by Bloomberg.GoHealth, founded in 2001, has become a provider of plans under Medicare and the Affordable Care Act, also known as Obamacare, according to its website. The indicated price range was $18 to $20. Luisa Beltran - GoHealth’s founders and Centerbridge will control the company once it goes public. GoHealth sold 43.5 million shares on Tuesday for $21 each after earlier marketing 39.5 million of them for $18 to $20 each.The listing, the 12th-biggest of 2020 in the U.S., adds to the IPO surge since March even as the coronavirus pandemic continues to take its toll on the economy. The Chicago-based company has since expanded to various U.S. health insurance markets, including selling Medicare plans to senior citizens through its website. Reporting by Rebecca Spalding in New York; Additional reporting by Juby Babu in Bengaluru; Editing by Tom Brown and Leslie Adler ... Centerbridge-backed American Renal files for IPO. Fast-growing and profitable, … A record $184 billion was raised in U.S. equity capital markets in the second quarter, according to Refinitiv IFR data. The coronavirus outbreak could positively affect GoHealth’s business by driving more Americans to purchase insurance online, rather than through face-to-face interactions, the company said in its IPO prospectus. New York; 375 Park Avenue; New York, NY 10152-0002 +1 (212) 672-5000 ; Contact Us; Registered with the United States Securities and Exchange Commission (IARD/CRD Number 157359) The IPO gives GoHealth a valuation of close to $6.6 billion, 10 months after private equity firm Centerbridge Partners LP invested in it at a $1.5 billion valuation. Its shares are scheduled to start trading in New York on Wednesday under the ticker ‘GOCO’. Centerbridge brings together experience across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for our investors and business partners.
Last year, GoHealth’s net revenue increased 138.5% to $539.5 million. GoHealth sells health insurance online, a business that has grown rapidly since the passage of the Affordable Care Act in 2010. As of December 2014, the Firm has approximately $25 billion in capital under management with offices in New York and London. Its board includes former Chicago Mayor Rahm Emanuel, who was also President Barack Obama’s first chief of staff.Last year, the company had pro forma net income of $30 million on net revenue of almost $540 million, according to its filings with the U.S. Securities and Exchange Commission.Updates with closing share price in second paragraph Its net income in 2019 rose to $30.5 million from $28.1 million in 2018. The company's line of business includes providing various commercial services. Founder-led and backed by Centerbridge Partners, GoHealth (GOCO) plans to raise $751 million at a $6 billion market cap. Private Equity firm Centerbridge Partners acquired GoHealth in 2019 and will control up to 39% of the voting power, including Class B shares, according to the filings.
The Firm specializes in leveraged buyouts, turnaround, sial situations, credit investing, and distressed debt securities. GoHealth expects to see continuous growth as more baby boomers, who are used to buying services online, turn 65. Centerbridge Partners, L.P. is an investment management firm focused on private equity and distressed investment opportunities. (Reuters) - GoHealth Inc GOCO.O said on Tuesday it raised $913.5 million in its initial public offering, pricing its shares above the indicated price range amid rapid growth in its U.S. online health insurance marketplace. The IPO, which priced 43.5 million shares at $21 each, more than quadrupled the valuation of the online health insurance broker in less than a year. The company was previously looking to sell 39.5 million shares. By. Centerbridge Partners Europe LLP Centerbridge Partners Europe, Llp was founded in 1985.
Shares of the Chicago-based company rose as much as 25% from the $21 offer price but closed at $19.46 in New York trading Wednesday, giving the company a market value of about $6.1 billion.
Over $8.9 billion worth of IPOs in the second quarter priced above the target range, the highest amount since the third quarter of 2014, according to Dealogic.
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