GSK and Merck Group-backed Progyny floated in an offering that involved the fertility benefits manager pricing its shares below their range.
Progyny, a US-based fertility benefits platform backed by pharmaceutical firms GlaxoSmithKline (GSK) and Merck Group, went public on Friday in a $130m initial public offering.
The company issued 6.7 million of new shares on the Nasdaq Global Select Market priced at $13 each while existing backers including Merck sold a combined 3.3 million shares. It had originally set a range of $14 to $16 and its shares rose to close at $15.94 on the first day of trading giving…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
