Hinge Health prices IPO at $32, the top end of expected range

Hinge Health priced its IPO at $32 per share on Wednesday, at the top end of the expected range. The digital physical therapy startup sold 8.52 million shares in the offering, raising about $273 million. The total offering was for 13.7 million shares, with the balance being sold by existing shareholders. Hinge, founded in 2014, will trade on the New York Stock Exchange under the ticker symbol "HNGE." The company filed its initial prospectus in March and updated the document earlier this month with an expected pricing range of $28 to $32. At the IPO price, Hinge Health is worth about $2.6 billion, though that number could be higher on a fully diluted basis. That's down significantly from a private market valuation of $6.2 billion in October 2021, the last time the company raised outside funding. The company uses software to help patients treat acute musculoskeletal injuries, chronic pain and carry out post-surgery rehabilitation remotely. It was co-founded by CEO Daniel Perez and Ex ... Read full article.