Omada Health Prices $150M IPO In-Line With Estimated Range

Omada Health (OMDA) priced its IPO at $19 per share, midpoint of the previously estimated price range of $18 and $20 per share

Virtual healthcare provider Omada Health (OMDA) priced its initial public offering (IPO) at $19 per share, at the midpoint of the previously estimated price range of $18 and $20 per share as per an amendment to the S-1 filing made in late May.

The offering is expected to close on June 9.

The San Francisco-based company would sell 7.9 million shares of its common stock. Based on the IPO pricing, the company is set to raise gross proceeds of over $150 million.

Additionally, Omada Health has given underwriters a 30-day option to buy up to 1.2 million additional shares of common stock at the IPO price, excluding underwriting discounts and commissions.

At the IPO price, Omada is valued at around $1.1 billion, with the potential for a higher valuation on a fully diluted basis. It had raised $192 million in a Series E funding round led by Fidelity Management & Research in February 2022.

The shares are set to begin trading on the Nasdaq Global Select Market under the ticker symbol “OMDA” on June 6, 2025.

Morgan Stanley, Goldman Sachs & Co, and J.P. Morgan are serving as lead book-running managers for the offering. Barclays and Evercore ISI are acting as joint book-running managers, while Canaccord Genuity and Needham & Company are serving as co-managers.

Last month, digital physical therapy company Hinge Health debuted on the NYSE at $39.25 per share, 23% higher than its IPO price of $32. The shares have risen 20% since then.

Omada provides virtual care programs designed to help patients manage chronic conditions such as prediabetes, diabetes, and hypertension. According to the prospectus, its revenue increased by 57% year-on-year to $55 million in the quarter ended March 31, 2025.

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