Castlight Health prices IPO at $16, above the upwardly revised range

By Renaissance Capital,

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Castlight Health, which provides an on-demand software platform that helps self-insured employers control healthcare costs, raised $178 million by offering 11.1 million shares at $16, above the upwardly revised range of $13 to $15. The company had initially filed to offer 11.1 million shares at a range of $9-$11. Its $16 offer price represents a 60% increase from the original midpoint. Castlight Health now commands a fully diluted market cap of $1.6 billion and an enterprise value of $1.4 billion.

Castlight Health will list on the NYSE under the symbol CSLT. Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: CSLT

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