HealthEquity Announces Closing of Offering

DRAPER, Utah, May 11, 2015 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (Nasdaq: HQY), one of the largest U.S. health savings account (HSA) non-bank custodians, today announced the closing of its previously announced follow-on public offering of an aggregate of 4,427,500 shares of common stock, including the 577,500 shares purchased pursuant to the full exercise of the underwriters' option to purchase additional shares, at a price to the public of $25.90 per share.

In the offering, HealthEquity sold 972,500 shares of common stock, resulting in net proceeds to the Company of approximately $23.4 million, after deducting underwriting discounts and commissions, and estimated offering expenses payable by HealthEquity. In addition, certain of HealthEquity's stockholders sold 3,455,000 shares of common stock. HealthEquity did not receive any proceeds from the sale of the shares sold by the selling stockholders.

Wells Fargo Securities, LLC acted as sole book-running manager for the offering. Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated and SunTrust Robinson Humphrey, Inc. acted as co-managers for the offering.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission and have become effective. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by email at [email protected], or by telephone at (800) 326-5897.

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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About HealthEquity

Founded in 2002, HealthEquity is one of the nation's oldest and largest dedicated health savings custodians. The Company's innovative technology platform and tax-advantaged accounts help members build health savings, while controlling health care costs. HealthEquity services more than 1.4 million health savings accounts for 70 health plan partners and employees at approximately 27,000 companies across the United States.

CONTACT: Investors Contact:

         Westwicke Partners
         Bob East/Asher Dewhurst
         443-213-0500
         [email protected]

You May Also Be Interested In

• AEVEX prices public offering of 8 million shares at $27 each
• BrightSpring prices 15 million share secondary offering at $58.75
• Quantinuum prices IPO at $60 per share for 28 million shares