HealthEquity Announces $257.6 Million Common Stock Public Offering

Willkie represents HealthEquity, Inc., a leading administer of Health Savings Accounts and complementary Consumer-Directed Benefits, in its offering of 4,600,000 shares of common stock at a price to the public of $56.00 per share.

On July 8, Willkie client HealthEquity, Inc. (NASDAQ: HQY), announced the pricing of the previously announced underwritten public offering of shares of its common stock. HealthEquity has agreed to sell an aggregate of 4,600,000 shares of its common stock at a price to the public of $56.00 per share. Gross proceeds to HealthEquity from the offering are expected to be $257,600,000, and the offering is expected to close on July 13, 2020.

Additionally, HealthEquity has granted the underwriters a 30-day option to purchase up to an additional 690,000 shares of its common stock.

J.P. Morgan Securities LLC and another financial institution are acting as lead book-running managers for the offering. Goldman Sachs & Co. LLC, and RBC Capital Markets, LLC are acting as book-running managers for the offering, and BofA Securities, Citizens Capital Markets, Inc., Deutsche Bank Securities and Raymond James & Associates, Inc. are acting as co-managers for the offering. 

HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers.

In 2019, Willkie represented HealthEquity in its approximately $2 billion acquisition of WageWorks. Willkie also represented Health Equity in its initial public offering and several other follow-on offerings.

The current transaction was handled by partners Jeffrey Hochman and Matthew Haddad and associates Erin Kinney and Andrew Kim.