Change Healthcare (CHNG) has priced its IPO of 42.86M common shares at $13.00 per share and its concurrent offering of 5M of its 6.00% tangible equity units with a stated amount of $50.
Closing date is July 1.
Underwriters over-allotment is an additional 6.43M common shares and 0.75M units.
The shares and the units are expected to begin trading on the Nasdaq on June 27 under the symbols “CHNG” and “CHNGU,” respectively.
Net proceeds from both offering will be used to repay a portion of the outstanding indebtedness under its senior secured term loan facility.
Source: Press Release
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