Accolade Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
October 26 2020 - 4:05PM
Accolade, Inc. (Nasdaq: ACCD), which provides personalized,
technology-enabled solutions that help people better understand,
navigate, and utilize the healthcare system and their workplace
benefits, today announced the closing of its public offering of
5,750,000 shares of its common stock, inclusive of the full
exercise by the underwriters of their option to purchase 750,000
shares of common stock, at a price to the public of $38.50 per
share. The aggregate gross proceeds to Accolade from the offering,
before deducting the underwriting discount and other offering
expenses, were approximately $221.4 million.
Goldman Sachs &
Co. LLC, Morgan Stanley and BofA Securities acted as joint
book-running managers for the offering. Piper Sandler, Credit
Suisse and William Blair acted as book-running managers. Baird, SVB
Leerink, Canaccord Genuity and Academy Securities acted as
co-managers.
The offering was made
only by means of a prospectus. Copies of the final prospectus
relating to the offering may be obtained from: Goldman Sachs &
Co. LLC, Attn: Prospectus Department, 200 West Street, New
York, New York 10282, or by email
at prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014 or by email at
prospectus@morganstanley.com; or BofA Securities, Attention:
Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, North Carolina 28255-0001, or by email at
dg.prospectus_requests@bofa.com.
Registration
statements relating to these securities have been filed with, and
declared effective by, the U.S. Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Accolade, Inc.
Accolade provides personalized health and
benefits solutions designed to empower every person to live their
healthiest life. Using a blend of cloud-based technologies,
specialized support from Accolade Health Assistants® and
Clinicians, and integrated data and programs across mobile, online
and phone, Accolade navigates people through the healthcare system
with trust, empathy and ease. Employers offer Accolade to employees
and their families as the single place to turn for all health,
healthcare, and benefits questions or concerns, increasing their
engagement in benefits and connecting them to high-quality
providers and care. By empowering members to make better decisions
about their health, Accolade can support members in lowering the
cost and complexity of healthcare while achieving consumer
satisfaction ratings over 90 percent and an NPS of 60.
Contact Asher Dewhurst Investor
Relations443-213-0500Accolade@westwicke.com
Megan TorresPublic Relations
206-679-9630Megan.Torres@accolade.com
Todd FriedmanInvestor
Relations484-532-5200Todd.Friedman@accolade.com
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