Concentra (CON) priced 22.5M shares at $23.50. The deal priced inside the $23.00-$26.00 target range. JPMorgan, Goldman Sachs, BofA, Deutsche Bank, Wells Fargo, Mizuho, RBC Capital and Truist are acting as joint book running managers for the offering. Concentra Group is a wholly owned subsidiary of Select Medical (SEM) and after the completion of the IPO, Select Medical will own 104,093,503 shares of Concentra’s common stock, representing 82.23% of the total outstanding shares of Concentra’s common stock, or 80.09% if the underwriters exercise in full their over-allotment option, the company has noted.
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