OSCR - Alignment Healthcare estimates IPO at $3.6B even as rival insurtech Oscar Health sinks

Alignment Healthcare (ALHC) disclosed in a filing Thursday that it expects to price its IPO at $17 to $19 a share, valuing the so-called “insurtech” firm at up to some $3.6B even as rivals like Oscar Health (OSCR) sink.Alignment wrote in an S-1 filing with the U.S. Securities and Exchange Commission that it plans to offer 21.7M shares – 21.2M directly from the company and 5.5M from certain pre-IPO shareholders.The firm is also granting underwriters the option to buy 4.08M additional shares for overallotments.All told, ALHC expects to have some 187.3M shares outstanding following the initial public offering. That would value the firm at about $3.4B at a midpoint $18 a share, or roughly $3.6B at $19 a share.However, Alignment said that up to 1.1M of its shares (4%) will go toward a directed share program that’s presumably for insiders, but that won’t have any lock-up period unless the stock

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Alignment Healthcare estimates IPO at $3.6B even as rival insurtech Oscar Health sinks