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Insurtech startup Alignment Healthcare has launched its much-anticipated IPO, through which it aims to raise between $462 million and $516 million.
The Orange, California-based startup — which offers Medicare Advantage plans — is planning to sell 27.2 million shares of its common stock, including 5.5 million shares to be offered by existing stockholders. The IPO price is expected to be between $17 and $19 per share, according to the information contained in a March 18 Securities and Exchange Commission filing .
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Alignment expects to have around 187.3 million shares outstanding following the IPO, which would value the firm at roughly $3.6 billion at $19 a share, according to Seeking Alpha .
The company offers Medicare Advantage plans in 22 markets, including in California, North Carolina and Nevada, and it has a health plan membership of approximately 81,500.
Among a growing number of insurtech companies in the healthcare market, the company claims to use predictive analytics to determine what level […]