athenahealth (ATHN) IPO Prices at $18

September 20, 2007 10:16 AM EDT
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Price: $134.99 --0%

Overall Analyst Rating:
    NEUTRAL (= Flat)

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athenahealth, Inc. (Nasdaq: ATHN) announced the pricing of its initial public offering of 6,286,819 shares of its common stock at a price to the public of $18.00 per share, above the expected $14-$16 range. The stock will open for trading shortly on the NASDAQ.

The 6,286,819 shares to be sold in the offering consist of 5,000,000 shares to be sold by the Company and 1,286,819 shares to be sold by certain stockholders.

Goldman, Sachs & Co. and Merrill Lynch & Co. acted as joint book runners for the offering. Piper Jaffray & Co. and Jefferies & Company, Inc. acted as co-managers.

athenahealth is a provider of internet-based business services for physician practices. The company\'s service offerings are based on three integrated components: proprietary internet-based software, continually updated database of payer reimbursement process rules and our back-office service operations that perform administrative aspects of billing and clinical data management for physician practices.

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