What to know about Bright Health’s (massive) IPO:
- Bright Health, the Minneapolis-based healthcare and medtech company, has officially entered the market, trading on the New York Stock Exchange under the ticker symbol BHG
- The company debuted at $18 a share and sold 51.35 million shares, reaching $924 million raised
- This is the largest IPO in Minnesota history, eclipsing Ceridian HCM Holding’s 2018 IPO of $531 million from 24.15 million shares
- The numbers are a step down from Bright Health’s initial proposal of 67.2 million shares sold at $23 a share
- Underwriters have a 30-day option to sell 6.2 million more shares, which could push the total to more than $1 billion
Alex oversees the content produced for BETA, Twin Cities Startup Week, and tech.mn. When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).