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 Oscar Health Inc. disclosed Tuesday that the expected pricing of its initial public offering has increased, to boost what the digital health-insurance company was expected to raise by up to $124 million. The company is still offering 31.0 million shares in the IPO, but the IPO is now expected to price between $36 and $38 a share to raise $1.18 billion, up from previous expectations of between $32 and $34 a share to raise $1.05 billion. The number of shares outstanding expected after the IPO also increased, to 197.08 million from 197.04 million, which increases the expected market value of the company to $7.49 billion from $6.70 billion. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 11.2% over the past three months while the S&P 500 has gained 6.4%.
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Sen. Elizabeth Warren, Sen. Bernie Sanders and a slew of other Democrats proposed a 2% tax on wealth above $50 million and a 3% tax on wealth over $1 billion.
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