Cue Health IPO priced in middle of expected range, valuing COVID test maker at $2.3 billion

Cue Well being Inc.
HLTH,
+0.61%
is about to go public Friday, after the California-based COVID-19 test maker’s preliminary public providing priced at $16 a share, in the course of the anticipated vary of between $15 and $17 a share. The corporate raised $200.0 million because it offered 12.5 million shares within the IPO. The pricing valued the corporate at about $2.3 billion. The inventory is slated to start out buying and selling on the Nasdaq a while after the open, below the ticker image “HLTH.” The corporate goes public at a time that the Renaissance IPO ETF
IPO,
+1.32%
has gained 6.1% over the previous three months whereas the S&P 500
SPX,
+1.21%
has tacked on 4.3%.