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Health Insurance Innovations prices IPO at $14, at low end of the range

By: Renaissance Capital
Posted: 2/7/2013 4:30:00 PM
Referenced Stocks: HIIQ

Health Insurance Innovations, which offers web-based short-term medical insurance for uninsured and underinsured, raised $65 million by offering 4.7 million shares at $14, at the low end of the range of $14 to $16.At the $14 offer price the company holds a fully diluted market value of $187 million and an enterprise value of $126 million. Health Insurance Innovations will list on the NASDAQ under the symbol HIIQ. Credit Suisse, Citi and BofA Merrill Lynch acted as lead managers on the deal.