BUZZ-Hinge Health set to rise in NYSE debut after $437 million IPO
Hinge Health is set to debut on the NYSE with shares expected to rise up to 12.5% above the IPO price of $32, opening between $34 and $36. The digital health startup raised $437.3 million by selling approximately 13.7 million shares at the top end of the marketed range. Morgan Stanley, Barclays, and BofA Securities led the offering, with major backers including Insight and Atomico. The firm was valued at $6.2 billion in a 2021 funding round.
** Digital health startup Hinge Health's HNGE.N shares set to open up to 12.5% above offer price in their New York Stock Exchange debut on Thursday
** Stock recently indicated to open between $34 and $36 vs. $32 IPO price
** HNGE and some existing investors sold ~13.7 million shares at the top end of the marketed range of $28 to $32 apiece to raise $437.3 million
** Morgan Stanley, Barclays and BofA Securities were the lead book-running managers for the offering
** HNGE's major backers include venture capital firms Insight and Atomico
** California-based firm was valued at $6.2 billion in 2021 funding round
