Alignment Healthcare, which provides Medicare Advantage plans to seniors, raised $490 million by offering 27.2 million shares (20% insider) at $18, within the range of $17 to $19.
Alignment provides Medicare Advantage plans that are customized to meet the needs of individual seniors. Its current product portfolio consists of products tailored that account for factors such as health condition, socioeconomic status, and ethnicity. Alignment also provides additional services such as transportation, pet care, grocery benefits, companion care, fitness memberships, a 24/7 concierge, and a clinical service hotline.
Alignment Healthcare plans to list on the Nasdaq under the symbol ALHC. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Securities and William Blair acted as lead managers on the deal.
