Clover Health Investments Has Set The Price Of An Underwritten Public Offering Of Over 50 Million Shares

Clover Health Investments is committed to improving the health of the elderly by providing health insurance plans and the Clover Assistant platform that instantly shows a patient’s medical history to doctors, thereby saving doctors and patients time for making a diagnosis and choosing the right drugs.

At the moment, more than 2400 doctors cooperate with it, and each of them supplements the patient’s medical record with information. The CLOV price has been gradually declining over the past 30 days. The last trading session was closed at $ 6.41, down 23% from a month ago. In total, there are 247.835 million shares in circulation, while the number of investors is about 250.

The medical company declares an underwriting public offering price of more than 52 million ordinary shares at $ 5.75 each. It also announced a 30-day contract to purchase over 7 million common stock at the same price, not including discounts and commissions.

In total, the gross proceeds are going to be $ 300 million and will be used to achieve entrepreneurial goals. This placement will be carried out through the issue of securities and will last until November 22. If you would like to look at the final prospect, you should contact Citigroup Global Markets, phone number which looks like this: 1-800-831-9146.