Oscar Health (NYSE:OSCR) stock is taking a beating on Wednesday as its shares start trading for the first time with its initial public offering (IPO).
Here’s everything potential investors in OSCR stock need to know about the offering.
- Oscar Health started trading on the New York Stock Exchange today with an IPO that ends on Friday.
- The offering includes a total of 37,041,026 shares of OSCR stock at a price of $39 each.
- Of those shares, 36,391,946 are being offered directly from Oscar Health.
- The remaining 649,080 shares come from certain existing shareholders.
- OSCR won’t receive any proceeds from the sale of the shares offered by existing stockholders.
- The Oscar Health IPO also includes a 30-day option for underwriters to purchase an additional 5,556,153 shares.
- Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), and Allen & Company are the lead managing bookrunners of the IPO.
- Wells Fargo (NYSE:WFC) is also acting as the managing bookrunner.
- Credit Suisse (NYSE:CS) and Bank of America (NYSE:BAC) are other bookrunners of the IPO.
- Cowen (NASDAQ:COWN) and LionTree are co-managers of the offering.
- Ramirez & Co. and Siebert Williams Shank are junior co-managers for the IPO.
- More than 11 million shares of OSCR stock have changed hands as of his writing.
- It’s also worth noting that shares of the stock actually started trading at $36 each when trading started at about noon.
- Shares of the stock have continued to rise and fall since then, but are mostly hovering around the $36 price.
OSCR stock was down 9.1% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.