Hospitalogy July 23, 2024
After expecting to price its IPO in the $20-$22 share range and raising just south of $300M net of fees, Ardent Health instead raised $192M at a $16 share price in its debut on the public markets.
While Ardent has held its weight so far on the public markets (trading up 12% to north of $17/share), the relatively muted debut leaves me wondering what the investor appetite is like for upcoming IPOs. There are a few different factors at play here, including lack of large scale exits / M&A, potential interest rate cuts on the horizon, oh…and of course, that whole Presidential election thing.
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