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Oscar Health, Inc. Announces Pricing of Initial Public Offering

·3-min read

Oscar Health, Inc. ("Oscar") today announced the pricing of its initial public offering of 37,041,026 shares of its Class A common stock at a price to the public of $39.00 per share. Of the offered shares, 36,391,946 shares are being offered by Oscar and 649,080 shares are being offered by certain of Oscar’s existing selling stockholders. The underwriters have a 30-day option to purchase up to an additional 5,556,153 shares of Class A common stock from Oscar at the initial public offering price, less underwriting discounts and commissions. Oscar will not receive any proceeds from any sale of shares by the selling stockholders.

The shares are expected to begin trading on the New York Stock Exchange on March 3, 2021 under the ticker symbol "OSCR." The offering is expected to close on March 5, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley and Allen & Company LLC are acting as lead managing bookrunners for the proposed offering with Wells Fargo Securities as managing bookrunner. Credit Suisse and BofA Securities are also acting as bookrunners. Cowen and LionTree are acting as co-managers, with Ramirez & Co., Inc. and Siebert Williams Shank as junior co-managers for the proposed offering.

The offering of these securities is being made only by means of a prospectus. A copy of the final prospectus relating to the proposed offering, when available, may be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com;

  • Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014;

  • Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022;

  • Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, via telephone: 1-800-326-5897, or via email: cmclientsupport@wellsfargo.com;

  • Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, via telephone: 1-800-221-1037, or via email: usa.prospectus@credit-suisse.com; or

  • BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255, or via email: dg.prospectus_requests@bofa.com.

A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission on March 2, 2021.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Oscar Health, Inc.

Oscar Health, Inc. ("Oscar") is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all.

Headquartered in New York City, Oscar has been challenging the health care system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of approximately 529,000 Americans across 291 counties, as of January 31, 2021. We offer Individual & Family, Small Group and Medicare Advantage plans. Our vision is to refactor health care to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210302006207/en/

Contacts

Media: Jackie Kahn; jkahn@hioscar.com

Investor Relations: ir@hioscar.com