Definitive Healthcare could be valued at more than $3.5 billion after IPO terms set

Definitive Healthcare Corp. disclosed Tuesday that terms of its initial public offering have been set, in which the Massachusetts-based provider of health care commercial intelligence looks to raise up to $373.3 million. The company said it is offering 15.56 million shares in the IPO, which is expected to price between $21 and $24 a share. At that pricing, the company could be valued at up to $3.55 billion. The stock is expected to list on the Nasdaq exchange under the ticker symbol "DH." The company listed 11 underwriters for the IPO, led by Goldman Sachs and J.P. Morgan. Funds managed by Advent International Corp. are the company's largest shareholders, as they are expected to beneficially own 73.2% of the Class A shares outstanding after the IPO. The company recorded a net loss of $25.5 million on revenue of $76.8 million over the six months through June 30, after a loss of $25.3 million on revenue of $54.6 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has gained 10.9% over the past three months, while the S&P 500 has tacked on 6.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Definitive Healthcare could be valued at more than $3.5 billion after IPO terms set
Definitive Healthcare Corp. disclosed Tuesday that terms of its initial public offering have been set, in which the Massachusetts-based provider of health care commercial intelligence looks to raise up to $373.3 million. The company said it is offering 15.56 million shares in the IPO, which is expected to price between $21 and $24 a share. At that pricing, the company could be valued at up to $3.55 billion. The stock is expected to list on the Nasdaq exchange under the ticker symbol "DH." The company listed 11 underwriters for the IPO, led by Goldman Sachs and J.P. Morgan. Funds managed by Advent International Corp. are the company's largest shareholders, as they are expected to beneficially own 73.2% of the Class A shares outstanding after the IPO. The company recorded a net loss of $25.5 million on revenue of $76.8 million over the six months through June 30, after a loss of $25.3 million on revenue of $54.6 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has gained 10.9% over the past three months, while the S&P 500 has tacked on 6.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.