糖心视频

Update: Accolade shares surged when trading started, going as high as $36.89 before closing for the day at $29.70.

priced its initial public offering of 10 million shares at $22 per share, raising $220 million. The company develops personalized technology to help people better understand their workplace health care benefits.

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Shares were to begin trading Thursday on under the ticker symbol “.” The offering is expected to close on July 7, the company said. In addition to the initial 10 million shares, the company has granted the underwriters a 30-day option to purchase up to 1.5 million additional shares.

Founded in the Philadelphia suburbs in 2007, Accolade has raised in venture-back funding to date, according to Crunchbase data. The company last raised funds in 2019, a led by . That was preceded by a led by , , and .

In a , Accolade CEO said the company鈥檚 technology supports 1.7 million people.

鈥淏y contracting with employers across the country for more than a decade, we鈥檝e helped consumers (our customers鈥� employees and their family members) get the health care experience they deserve鈥攐ne that puts their needs first, every time,鈥� he said.

Accolade filed its with the on Feb. 28.

The IPO filing reveals the company offered 1.3 million more shares than anticipated and priced it above the $19 to $21 range. Its financial data showed sharp revenue growth paired with decreasing losses. The company had revenue of $132.5 million in its last fiscal year, which ended Feb. 28. That鈥檚 a sharp increase from the $94.8 million in revenue posted for the prior fiscal year. Meanwhile, Accolade posted a net loss of $51.4 million in its most recent fiscal year, a slight decrease from its $56.5 million loss in the year-ago period.

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