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- BrightSpring plans to raise about $880 million with IPO.
- Health services company plans to sell 53.3 million shares at a price range of $15 to $18 per share.
- SoFi is offering a limited number of BTSG shares to investing account holders.
Investors with SoFi brokerage accounts will have an opportunity to get in on BrightSpring Health Service’s initial public offering, which is expected to raise about $880 million.
SoFi, which also allowed customers to invest in Instacart’s IPO in September, is named as an underwriter for the BrightSpring offering in a prospectus filed on January 17. Most shares of IPOs are typically allocated to institutional investors or high-net-worth individuals. SoFi is making a limited supply of BrightSpring shares available to retail investors through its investing platform.
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Backed by private equity company KKR, BrightSpring is a health services provider for people battling chronic conditions, providing health, hospice, and rehab services. The Louisville, Kentucky-based company said it plans to sell 53.3 million shares in a price range of $15 to $18. The total market value for BrightSpring after the IPO is estimated to be more than $3 billion.
Here’s how you can buy BrightSpring stock in 2024.
About the BrightSpring IPO
An initial public offering (IPO) is when a private business — like BrightSpring, for example — decides it’s going public. Private companies only offer shares (aka private equity) to certain high-net-worth individuals and venture capitalists. However, regular retail investors can also participate once a company goes public.
The IPO market struggled in 2023 amid concerns about a recession, rising interest rates, and wary investors. But all that may be changing in 2024 as investor outlook improves.
“Following the last couple years of subdued equity issuance, 2024 brings some optimism for increased activity as companies seek exits and capital,” said Natalie Hwang, founding managing partner at Apeira Capital. “Assuming that inflation continues to ease, and the resilience of the broader economy endures, we believe that many companies will be able to re-accelerate growth to drive investor engagement and demand.”
BrightSpring plans to list shares on the Nasdaq under the ticker symbol BTSG. Fifteen underwriters, including SoFi, are listed in the prospectus. They include Goldman Sachs, KKR, Morgan Stanley, Jefferies, and UBS.
The BrightSpring IPO has been much anticipated following the company’s initial pursuit to go public in 2021. It withdrew that plan in November 2022.
How to invest in BrightSpring’s IPO
You can invest in BrightSpring IPO through a traditional brokerage or online investment platform. At the moment, SoFi Invest is the only online brokerage known to be making BrightSpring shares available to clients during the IPO. SoFi Invest users with active brokerage accounts can make BTSG share requests through the platform.
SoFi made a similar move in September when Instacart first sold shares in an IPO under the ticker CART.
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If you don’t already have a SoFi Invest brokerage account, you only need $1 to start trading. After you sign up, select the BrightSpring IPO, submit an indication of interest (IOI), and confirm your purchase with SoFi to secure your shares.
Keep in mind that IPO shares are limited, and there is a chance that even after submitting an IOI, you may still be unable to get hold of BTSG stock.
Additional brokerages may also offer BTSG stock in the future. If you already have an account with an online brokerage that offers IPO trading, there’s a chance that BTSG stock may become available.
Should you invest in the BrightSpring IPO?
The BrightSpring IPO has been long anticipated, and various stock traders are eager to jump on this opportunity. Make sure to do your due diligence and research BrightSpring financials before purchasing shares. IPO investments can be risky as they don’t always pan out.
You can mitigate investment portfolio volatility by diversifying your assets across different market sectors with ETFs, mutual funds, real estate, and more. Consult with a financial advisor or financial consultant for additional professional investing insight.
