ARTICLE | Financial News

Inovalon, Invitae price IPOs

February 13, 2015 2:32 AM UTC

Bioinformatics company Inovalon Holdings Inc. (NASDAQ:INOV) and diagnostics play Invitae Corp. (NYSE:NVTA) each began trading on Thursday after pricing bumped-up IPOs.

Inovalon shares were unchanged after the company raised $600 million in an offering on NASDAQ through the sale of 22.2 million shares at $27. The price valued the company at $3.9 billion. Inovalon had proposed last month to sell 22.2 million shares at $21-$24, then revised the range upward earlier this week to $24-$26. Underwriters are Goldman Sachs; Morgan Stanley; Citigroup Global Markets; BofA Merrill Lynch; UBS; Baird; Piper Jaffray; Wells Fargo; and William Blair. Inovalon provides data analytics services to healthcare organizations, primarily health plans. ...