Teladoc prices upsized IPO at $19, well above the range

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Teladoc, which provides on-demand medical consultation via mobile, internet video or telephone, raised $157 million on Tuesday by offering 8.3 million shares (100% primary) at $19, well above the $15-$17 range. The company had initially filed to offer 7.0 million shares. At its offer price, Teladoc now commands a fully diluted market cap of $758 million and an enterprise value of $620 million. The company will list on the NYSE under the symbol "TDOC". J.P. Morgan and Deutsche Bank acted as the lead bookrunners on the deal.

The article Teladoc prices upsized IPO at $19, well above the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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 Symbols: TDOC

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