Health Insurance Innovations sets terms for $70 million IPO

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Health Insurance Innovations, which offers web-based medical insurance plans for the uninsured and underinsured, announced terms for its IPO on Friday. The Tampa, FL-based company plans to raise $70 million by offering 4.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Health Insurance Innovations would command a fully diluted market value of $200 million. Health Insurance Innovations, which was founded in 2008 and booked $38 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol HIIQ. Credit Suisse, Citi and BofA Merrill Lynch 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 The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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