The healthcare data security system provider has gone public, but at a price considerably below its $115m target.
Imprivata, a US-based provider of authentication technology for use in healthcare, closed an $87.25m initial public offering yesterday that, although oversubscribed, was well below its initial target of $115m.
The company, backed by investors including software provider SAP, initially issued 5 million shares priced at $15 each last week.
Underwriters J.P. Morgan, Piper Jaffray, William Blair, Wells Fargo Securities, and Stephens then took up the option to buy a further 750,000 shares, lifting the the overall proceeds for…
