Accretive Health IPO closed at $13.55 per share last week
Accretive Health priced its stock at $12 per share for its initial public offering last week, below the $14 to $16 the revenue-cycle technology company first proposed. The stock finished its first week at $13.55. Accretive offered roughly 6.7 million shares, as initially announced, but stockholders cut their planned issue in half for the IPO to 3.3 million shares, the company said in a regulatory filing. Ascension Health, St. Louis, one of Accretive Health’s four largest stockholders, will hold an 8.5% stake in Chicago-based Accretive after the offering, the regulatory filing said. Accretive reported Ascension exercised two warrants to buy 874,532 shares at a price of $4.43 per share and 437,268 shares at a price of $10.25.