Deal Details

Change Completes $928 Million Initial Public Offering

Healthcare

Change initial public offering

Summary

Change Healthcare Inc. ("Change” or the "Company”) (NASDAQ-GS:CHNG) recently completed an initial public offering of 49,285,713 shares of its common stock at a public offering price of $13.00 per share and a concurrent offering of 5,750,000 of its 6.00% tangible equity units (“Units”), with a stated amount of $50.00. The gross proceeds to Change were approximately $928 million. Change intends to use the net proceeds from both the common stock offering and the Units offering to repay a portion of the outstanding indebtedness under its senior secured term loan facility.

Baird served as co-manager on this offering.

About

Change is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the United States healthcare system. The Company is a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities. The major shareholders of Change include Blackstone Group, L.P., McKesson Corporation and Hellman & Friedman LLC. Change is headquartered in Nashville, Tennessee.

Healthcare

Change initial public offering