What You Need to Know
- Oscar Health has 529,000 enrollees.
- Most are in the individual and small-group markets.
- A successful IPO would give it a value of about $15,000 per enrollee.
Oscar Health Inc. is getting closer to turning itself into a publicly traded company.
The New York-based health insurer says in a registration statement, filed Monday, that it hopes to register 35.65 million new shares, sell those shares for $31 to $34 each, and generate a total of up to $1.2 billion in initial public offering proceeds.
An investment affiliate of Google and other investors already own many shares of Oscar stock.
If the IPO does well, Oscar could end up with 166,571,638 shares of Class A common stock outstanding and 35.1 million shares of Class B stock outstanding.
Analysts at Renaissance Capital LLC, a Greenwich, Connecticut-based RIA, estimate a successful IPO could give Oscar Health a total market value of about $7.7 billion.