NantHealth, which provides cloud-based healthcare data solutions to support clinical decisions, announced terms for its IPO on Tuesday.
The Culver City, CA-based company plans to raise $91 million by offering 6.5 million shares at a price range of $12.50 to $15.50. Insiders intend to purchase $70 million worth of shares in the offering (77% at the midpoint). At the midpoint of the proposed range, NantHealth would command a fully diluted market value of $1.7 billion.
NantHealth was founded in 2007 and booked $66 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol NH. Jefferies and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of May 30, 2016.
