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| Name | Symbol | Market | Type |
|---|---|---|---|
| Merck KGaA (PK) | USOTC:MKKGY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.37 | -1.14% | 32.07 | 31.92 | 32.40 | 32.23 | 31.77 | 31.77 | 32,298 | 21:00:35 |
From Apr 2019 to Apr 2024
By Colin Kellaher
Progyny Inc., a benefits-management company backed by private-equity firm TPG Inc., on Tuesday said it expects to sell 6.7 million shares at $14 to $16 apiece in its initial public offering.
At the $15 midpoint of that range, the New York company focused on fertility and family-building benefits said it expects net proceeds of about $91 million.
Certain shareholders, including Germany's Merck KGaA (MRK.XE), are selling another 3.3 million shares in the IPO, for a total offering of 10 million shares, Progyny said.
Progyny will have about 82.2 million shares outstanding after the IPO, according to a filing with the Securities and Exchange Commission, for a market capitalization of roughly $1.23 billion at the $15-a-share midpoint.
TPG, which isn't selling any shares, will own about 25% of Progyny after the offering.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 15, 2019 11:22 ET (15:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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