Livongo Health, Inc., today announced it plans to offer 10,700,000 shares of its common stock to the public with the price expected to be between $20.00 and $23.00 per share. Livongo has applied to list its common stock on the Nasdaq Global Select Market under the symbol “LVGO.” Livongo also intends to grant the underwriters a 30-day option to purchase up to an additional 1,605,000 shares of common stock from Livongo.
Livongo offers an integrated suite of solutions to promote sustainable health behavior change based on easy, real-time data capture supported by intuitive devices; insights driven by data science; and a human touch when the member needs it. Livongo’s solutions include diabetes management, hypertension, prediabetes, and weight management, and behavioral health.
The company reported $30.9M and $68.4M in revenue for the years ended December 31, 2017, and 2018, respectively, representing a year-over-year growth rate of 122%.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC will serve as lead joint book-running managers for the proposed offering. Piper Jaffray & Co. and SVB Leerink LLC will serve as lead co-managers and Canaccord Genuity LLC, KeyBanc Capital Markets Inc. and Needham & Company, LLC will serve as co-managers for the proposed offering.