GoHealth Announces Pricing of Initial Public Offering

Rhea-AI Summary

GoHealth, a health insurance marketplace, announced the pricing of its initial public offering (IPO) of 43,500,000 shares of Class A common stock at $21.00 per share. The IPO is scheduled to begin trading on Nasdaq under the ticker symbol GOCO on July 15, 2020, with the offering expected to close on July 17, 2020. Underwriters have a 30-day option to purchase an additional 6,525,000 shares at the IPO price. Goldman Sachs, BofA Securities, and Morgan Stanley are the lead underwriters.

Positive

• Initial public offering of 43,500,000 shares at $21.00 per share.
• Underwriters have option to purchase additional 6,525,000 shares, potentially increasing capital.
• GoHealth aims to improve healthcare access, appealing market position.

Negative

• Potential shareholder dilution from additional share options.

CHICAGO, July 14, 2020 /PRNewswire/ -- GoHealth, Inc. ("GoHealth") (Nasdaq: GOCO), a leading health insurance marketplace, today announced the pricing of its initial public offering of 43,500,000 shares of its Class A common stock at a public offering price of $21.00 per share. The underwriters will also have a 30-day option to purchase up to an additional 6,525,000 shares of Class A common stock at the initial public offering price, less the underwriting discount.

The shares of Class A common stock are expected to begin trading on The Nasdaq Global Select Market under the ticker symbol "GOCO" on July 15, 2020. The offering is expected to close on July 17, 2020, subject to customary closing conditions.

Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley are acting as managing bookrunners. Barclays, Credit Suisse, Evercore ISI, RBC Capital Markets and William Blair are acting as bookrunners. Cantor, SunTrust Robinson Humphrey and Loop Capital Markets are acting as co-managers.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on July 14, 2020. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York NY 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com, BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, or via email: dg.prospectus_requests@bofa.com, or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GoHealth:

As a leading health insurance marketplace, GoHealth's mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers. GoHealth combines cutting-edge technology, data science and deep industry expertise to match customers with the healthcare policy and carrier that is best for them. Since its inception, GoHealth has enrolled millions of people in Medicare and individual and family plans.

Contacts:
Emily Clemons
Jason Koval
pressinquiries@gohealth.com
1-312-226-0027 x7770

View original content to download multimedia:http://www.prnewswire.com/news-releases/gohealth-announces-pricing-of-initial-public-offering-301093539.html

SOURCE GoHealth, Inc.

FAQ

What is the pricing of GoHealth's initial public offering?

GoHealth's initial public offering is priced at $21.00 per share.

When will GoHealth's shares start trading on Nasdaq?

GoHealth's shares are expected to begin trading on Nasdaq under the ticker symbol GOCO on July 15, 2020.

What is the expected closing date of GoHealth's IPO?

The offering is expected to close on July 17, 2020.

What is the total number of shares involved in GoHealth's IPO?

The total number of shares in GoHealth's IPO is 43,500,000, with an option for underwriters to purchase an additional 6,525,000 shares.

Who are the lead underwriters for GoHealth's IPO?

The lead underwriters for GoHealth's IPO are Goldman Sachs, BofA Securities, and Morgan Stanley.