Best Insurance stock - Health Insurance Innovations ipo stock prices : Health Insurance Innovations Inc. said it expects to raise up to $72.9 million in an initial public offering. The company plans to sell about 5.4 million shares, at between $14 and $16 a share, according to its most recent filing with the U.S. Securities and Exchange Commission. The shares include 700,000 that underwriters would have an option to purchase to cover over-allotments.
The firm would use $3.5 million of the net proceeds to repay outstanding debt under a term loan and up to $25 million to expand its commission structure, with the rest used for general corporate purposes.
Health Insurance, a Tampa company that develops and administers affordable, Web-based health insurance plans and ancillary products, filed for an IPO in late December.
The company has applied to list its common stock on the NASDAQ Global Market under the symbol “HIIQ.” An expected sale date for the shares was not announced.
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