HealthEquity (HQY) Announces Commencement of $250M Proposed Offering of Common Stock
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HealthEquity Announces Commencement of Proposed Offering of Common Stock
July 8, 2020 7:08 AM EDTDRAPER, Utah, July 08, 2020 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (HealthEquity or the Company), today announced that that it has commenced an underwritten public offering of $250 million of shares of its common stock. HealthEquity intends to use the net proceeds from the offering to free up additional capital for organic and inorganic growth by pre-paying $200 million under its term loan facility, with the remaining proceeds to be used for general corporate purposes, which may include additional pre-payments under its term loan facility and/or potential acquisitions.
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