Ardent Well being Companions units IPO worth at $16 per share
US healthcare supplier Ardent Well being Companions has introduced that its preliminary public providing (IPO) shall be priced at $16 per share.
The corporate is providing 12 million shares of widespread inventory to the general public after submitting with the U.S. Securities and Alternate Fee (SEC) final month.
Ardent Well being has additionally granted the underwriters a 30-day choice to buy as much as an extra 1.8 million shares on the IPO worth, much less underwriters' reductions and commissions.
The shares are anticipated to start buying and selling on the New York Inventory Alternate on July 18 underneath the ticker image “ARDT.” The providing is predicted to shut the next day.
The IPO is presently topic to the satisfaction of sure customary closing circumstances.
Ardent Well being plans to make use of the online proceeds from the IPO for working capital and the acquisition of extra companies.
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The corporate can even use the funds for different normal company functions, equivalent to debt compensation and capital investments.
Bloomberg reported final month that the IPO may elevate greater than $400 million and worth Ardent Well being at about $5 billion.
The primary book-running managers for the IPO are JP Morgan, BofA Securities and Morgan Stanley.
Leerink Companions, Stephens, Citigroup, Mizuho, RBC Capital Markets and Truist Securities are serving as bookrunners for the IPO, whereas Capital One Securities and Loop Capital Markets are co-managers.
Ardent Well being is predicated in Tennessee and focuses on offering healthcare providers primarily to fulfill the wants of rising city communities within the US.
The corporate presently operates a complete of 30 acute care hospitals and greater than 200 care areas, with greater than 1,700 healthcare suppliers in six U.S. states.
The goal is to enhance accessibility of healthcare and put money into numerous current providers and applied sciences.
The most recent IPO submitting marks Ardent Well being's second try and go public, after the corporate withdrew its preliminary IPO plan in 2020.
