Phreesia, which provides a patient-intake software platform for healthcare providers, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. Insiders plan to sell on the overallotment. At the midpoint of the proposed range, Phreesia would command a fully diluted market value of $658 million.
Phreesia was founded in 2005 and booked $104 million in sales for the 12 months ended April 30, 2019. It plans to list on the NYSE under the symbol PHR. J.P. Morgan, Wells Fargo Securities, William Blair, Allen & Company and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.
