InnovAge Holding, which provides value-based care to high-cost dual-eligible seniors through PACE, raised the proposed deal size for its upcoming IPO on Wednesday.
The Denver, CO-based company now plans to raise $342 million by offering 16.7 million shares at a price range of $20 to $21. The company had previously filed to offer the same number of shares at a range of $17 to $19. At the midpoint of the revised range, InnovAge Holding will raise 14% more in proceeds than previously anticipated.
InnovAge Holding was founded in 2007 and booked $607 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol INNV. J.P. Morgan, Barclays, Goldman Sachs, Citi, Baird, William Blair, Piper Sandler, and Capital One Securities are the joint bookrunners on the deal. It is expected to price during the week of March 1, 2021.
