Thursday, July 8, 2021
HomeHealthcareBright Health sets terms for $1.3B IPO 

Bright Health sets terms for $1.3B IPO 

Insurance technology insurance coverage Bright Health Group is aiming to intending about$1.3 billion through its initial public preliminary, according to a Securities and Exchange Commission filing. Bright Health plans to utilize the funds raised from the IPO to repay all exceptional borrowings under its credit arrangement. Yearly insurtech funding reached an all-time high of $7.1 billion across 377 deals in 2020, according to a report by CB Insights.

Insurance technology insurance coverage Bright Health Group is aiming to raise about$1.3 billion through its initial public offering, according to a Securities and Exchange Commission filing. The Minneapolis-based company, which revealed the terms of its IPO on Tuesday, will use 60 million shares of its common stock. Bright Health prepares to use the funds raised from the IPO to repay all exceptional borrowings under its credit arrangement. Annual insurtech financing reached an all-time high of $7.1 billion throughout 377 offers in 2020, according to a report by CB Insights.

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