SelectQuote Prices IPO at $17.00-$19.00 Per Share (SLQT)

SelectQuote (SLQT) plans to raise $450 million in an initial public offering on Friday, May 22nd, IPO Scoop reports. The company plans to issue 25,000,000 shares at $17.00-$19.00 per share.

In the last year, SelectQuote generated $464.5 million in revenue and $74 million in net income. The company has a market-cap of $2.9 billion.

Credit Suisse, Morgan Stanley, Evercore ISI, RBC Capital Markets, Barclays, Citigroup and Jefferies served as the underwriters for the IPO and Cantor, Keefe Bruyette & Woods (A Stifel Company), Piper Sandler and Drexel Hamilton were co-managers.

SelectQuote provided the following description of their company for its IPO: ”  We are a leading technology-enabled, DTC distribution platform that provides consumers with a transparent and convenient venue to shop for complex senior health, life and auto & home insurance policies from a curated panel of the nation’s leading insurance carriers. As an insurance distributor, we do not insure the consumer, but rather identify consumers looking to acquire insurance products and place these consumers with insurance carrier partners that provide these products and, in return, earn commissions from our insurance carrier partners for the policies we sell on their behalf. Our proprietary technology allows us to take a broad funnel approach to marketing by analyzing and identifying high quality consumer leads sourced from a wide variety of online and offline marketing channels. “.

SelectQuote was founded in 1999 and has 1800 employees. The company is located at 6800 West 115th Street, Suite 2511, Overland Park, KS 66211, US and can be reached via phone at (913)-599-9225 or on the web at http://www.selectquote.com.

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