Progyny Inc. Sets IPO at 10 Million Shares; Sees Pricing at $14-$16

Progyny Inc., a benefits-management company backed by private-equity firm TPG Inc., on Tuesday said it expects to sell 6.7 million shares at $14 to $16 apiece in its initial public offering.
At the $15 midpoint of that range, the New York company focused on fertility and family-building benefits said it expects net proceeds of about $91 million.
Certain shareholders, including Germany’s Merck KGaA (MRK.XE), are selling another 3.3 million shares in the IPO, for a total offering of 10 million shares, Progyny said.
Progyny will have about 82.2 million shares outstanding after the IPO, according to a filing with the Securities and Exchange Commission, for a market capitalization of roughly $1.23 billion at the $15-a-share midpoint.
TPG, which isn’t selling any shares, will own about 25% of Progyny after the offering.
https://www.marketscreener.com/MERCK-KGAA-436395/news/Merck-Progyny-Inc-Sets-IPO-at-10-Million-Shares-Sees-Pricing-at-14-16-Each-29378916/