HealthEquity (HQY) Prices 4.6M Share Common Offering at $56/Sh

HealthEquity, Inc. (NASDAQ: HQY) today announced the pricing of the previously announced underwritten public offering of shares of its common stock. HealthEquity has agreed to sell an aggregate of 4,600,000 shares of its common stock at a price to the public of $56.00 per share. Gross proceeds to HealthEquity from the offering are expected to be $257,600,000. The offering is expected to close on July 13, 2020, subject to customary closing conditions. Additionally, HealthEquity has granted the underwriters a 30-day option to purchase up to an additional 690,000 shares of its common stock. HealthEquity intends to use the net proceeds from the offering to free up additional capital for organic and inorganic growth by pre-paying $200 million under its term loan facility, with the remaining proceeds to be used for general corporate purposes, which may include additional pre-payments under its term loan facility and/or potential acquisitions.

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are acting as lead book-running managers for the offering. Goldman Sachs & Co. LLC, and RBC Capital Markets, LLC are acting as book-running managers for the offering, and BofA Securities, Citizens Capital Markets, Inc., Deutsche Bank Securities and Raymond James & Associates, Inc. are acting as co-managers for the offering. The offering is being made only by means of the applicable prospectus supplement and accompanying prospectus.

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