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Omada Health
shares rose 21% in their Nasdaq debut Friday after the virtual chronic care company priced its stock at $19 per share in its IPO.
The stock opened at $23 and closed at that same level, reaching a high of $28.40 in the middle of the day.
The company said in a press release late Thursday that it sold 7.9 million shares in the offering, amounting to about $150 million. The pricing was in the middle of the expected range, and valued the company at just over $1 billion, though that number could be higher on a fully diluted basis.
