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HealthEquity, Inc. launched its initial public offering last week of 9.1 million shares of common stock at a price to the public of $14 per share. The shares began trading on the NASDAQ Global Select Market on Thursday, July 31 under the symbol HQY. The underwriters were granted a 30-day option to purchase up to an additional 1,365,000 shares of common stock from HealthEquity to cover overallotments, which they exercised in full. HealthEquity represents the third IPO on NASDAQ from Utah this year. In addition, 75 percent of all publicly traded companies based in Utah are listed on NASDAQ.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated and SunTrust Robinson Humphrey, Inc. are acting as co-managers.
A registration statement relating to these securities was filed with the Securities and Exchange Commission and was declared effective on July 30.