HealthEquity Sets IPO Range

Draper, utah-based HealthEquity, which develops technology and software to help manage Health Savings Accounts (HSAs) for employers, has set its initial public offering range, saying it expects its IPO to price at between $10.00 and $12.00 per share. The company has applied to list as HQY on the NASDAQ Global Select Market. The company is looking to sell 9.1 million shares of its stock. Setting an initial public offering range is one of the major steps along the steps of an IPO, and usually occurs as the company embarks on a roadshow of institutional investors who might potentially be interested in the IPO, and before the final pricing. HealthEquity is backed by Berkley Capital and Napier Park Global Capital,