ANTM - Privia Health Group boosts IPO to $21-$23/share valuing healthtech firm at up to $2.4B

Healthtech start-up Privia Health Group (PRVA) boosted the price range Wednesday on its IPO to $21 to $23 a share, up from the previous $17-to-$19 estimate.However, Privia and one of its pre-IPO stockholders will continue to offer the public 19.5M shares, with the company providing 2.8M of that and the stockholder contributing the remaining 16.7M, according to the company’s revised S-1 filing.The firm also still plans to grant underwriters the option to buy another 2.925M shares for overallotments.Additionally, the company reiterated plans to sell health insurer Anthem (ANTM) some 4.2M shares in a private placement at whatever the IPO prices at. That would bring in $92M if the offering prices at its midpoint $22-a-share level.All told, Privia expects to net some $139.5M to $216M from the IPO, depending on where shares price at and whether underwriters exercise all overallotment options.The firm intends to use the proceeds for working capital, R&D,

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Privia Health Group boosts IPO to $21-$23/share, valuing healthtech firm at up to $2.4B