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 editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
