US mHealth service provider Vocera has priced its IPO of 5,850,000 shares of common stock on the NYSE at US$16 per share.
Vocera said that it is offering five million shares, while selling shareholders are offering 850,000 shares. This would equate to a…
US mHealth service provider Vocera has priced its IPO of 5,850,000 shares of common stock on the NYSE at US$16 per share.
Vocera said that it is offering five million shares, while selling shareholders are offering 850,000 shares. This would equate to a stake of around 27% in the company.
Vocera will not receive any of the proceeds from the share sale by the selling shareholders.
If all shares are sold at the US$16 price, this would see Vocera raising US$80m and the selling shareholders US$13.6m.
These shareholders have also given the underwriters a 30-day option to acquire up to 877,500 additional common shares at the offer price in order to cover over-allotments.
In order to acquire 877,500 common shares, the underwriters would have to pay over US$14m.
In an SEC filing on 26 March, Vocera said that there would be 21,735,208 shares would be outstanding after the IPO has taken place.
The joint bookrunning managers for the IPO are JP Morgan and Piper Jaffray & Co.
The co-managers are Leerink Swann, Robert W. Baird & Co., William Blair & Co. and Wells Fargo.
California-based Vocera provides mobile communications services to hospitals and other healthcare facilities.
It has received funding from VC and other corporate investors, including Cisco, Intel and Motorola.
