KKR-Backed BrightSpring Raises $693 Million in IPO Priced Below Range
- Company sold shares at $13 each, below marketed range
- Pricing below expectations could sour mood for upcoming IPOs
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BrightSpring Health Services Inc. raised $692.9 million in its initial public offering after pricing shares at $13 each, below a marketed range, according to people familiar with the matter.
The community-based health-care services provider backed by KKR & Co. sold 53.3 million shares, and concurrently sold tangible equity units at a coupon of 6.75%, the people said.