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Teladoc prices common stock offering

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Teladoc prices common stock offering

Teladoc Inc. priced a public offering of 6,650,000 shares offered by the company and 1.6 million shares offered by certain company stockholders, at a price of $16.75 per share.

The offering is expected to close on or about Jan. 24, subject to customary closing conditions. The underwriters were given a 30-day option to buy an additional 1,237,500 common shares.

The telehealth service provider intends to use proceeds for working capital and general corporate purposes, including acquisitions of, or investments in, other businesses, products or technologies. Teladoc will not receive proceeds from shares sold by the other stockholders.

J.P. Morgan and Piper Jaffray & Co. are representing the underwriters and acting as joint book-running managers, along with Wells Fargo Securities and William Blair. SunTrust Robinson Humphrey and Oppenheimer & Co. are acting as co-managers for the offering.