Oscar Health (OSCR) IPO Opens 8% Lower

Today's IPO for Oscar Health (NASDAQ: OSCR) opened for trading at $36 after pricing 37,041,026 shares of its Class A common stock at a price to the public of $39 per share.

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.

Oscar Health is a health insurance startup co-founded by Josh Kushner, the brother of Jared Kushner. He is a managing director of Thrive Capital, a tech-focused investment firm. Alphabet and Fidelity Management are some of the early investors in the startup.

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