July 10, 2019

Willkie represents HealthEquity in offering of 6.75 million shares.

Willkie client HealthEquity, Inc., the nation’s largest independent health savings account non-bank custodian, announced on July 9 the pricing of a follow-on public offering of 6,750,000 shares of common stock at a price to the public of $61.00 per share. Gross proceeds to HealthEquity from the offering are expected to be $411,750,000. The underwriters have been granted a 30-day option to purchase up to an additional 1,012,500 shares. 

HealthEquity intends to use the net proceeds from the shares sold by the company in the offering to fund a portion of the merger consideration for its pending acquisition of WageWorks, Inc., or for general corporate purposes if the acquisition is not consummated. The offering is expected to close on July 12, 2019.

The Willkie deal team was led by partners Matthew Haddad and Cris Greer, and included associates Ransel Potter and Mollie Adam and law clerk Christopher Giusto. The firm also represented HealthEquity in its recent agreement to acquire WageWorks, Inc. Click here to read Willkie’s June 28 announcement.

Founded in 2002, HealthEquity connects health and wealth, delivering health savings account (HSA) and other consumer driven health and retirement solutions in partnership with over 45,000 employers and 141 health, retirement and other benefit plan providers nationwide. HealthEquity members have access to its end-to-end platform and “purple” service to become consumers of healthcare while building health and retirement savings for the future. HealthEquity is the custodian of $8.3 billion in assets for 4.1 million HSA members nationwide.