Medline Inc. (NASDAQ:MDLN) shares are trending on Thursday.
Check out the current price of MDLN stock here.
Shares of the healthcare company surged 41.38% in regular trading hours on Wednesday, tapering off to a 2.47% decline at $39.99 in after-hours trading.
Medline priced its upsized initial public offering at $29 per share for 216.03 million Class A common shares, the company announced on Tuesday.
Underwriters And Deal Structure
Goldman Sachs & Co. LLC (NYSE:GS), Morgan Stanley (NYSE:MS), BofA Securities and J.P. Morgan (NYSE:JPM) served as global coordinators and lead bookrunning managers.
Barclays (NYSE:BCS), Citigroup (NYSE:C), Deutsche Bank Securities (NYSE:DB), Jefferies (NYSE:JEF) and UBS Investment Bank (NYSE:UBS) were among the bookrunning managers.
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The underwriters received a 30-day option to purchase up to 32.4 million additional shares.
Use Of Proceeds
The Illinois-based company, which went public on Wednesday, will use proceeds from 37.03 million shares and from any exercise of the underwriters' option to purchase an additional 32.40 million shares to purchase or redeem equity interests from pre-IPO owners.
The offering is expected to close on Thursday, subject to customary closing conditions.
Trading Metrics
Medline has a market capitalization of $32.27 billion.
Price Action: According to Benzinga Pro data, Medline closed at $41 on Wednesday.
Benzinga's Edge Stock Rankings indicates MDLN stock has a negative price trend across all time frames. Monitor the performance of other companies in this sector.
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