SAN FRANCISCO–(BUSINESS WIRE)–Hinge Health announced today that it has launched the roadshow for its proposed initial public offering of its Class A common stock. Hinge Health has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) to offer an aggregate of 13,666,000 shares of its Class A common stock, 8,522,528 of which are being offered by Hinge Health and 5,143,472 of which are being offered by certain selling stockholders (the “Selling Stockholders”). In addition, the Selling Stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 2,049,900 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $28.00 and $32.00 per share. Hinge Health has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “HNGE.”
Hinge Health intends to use substantially all of its net proceeds from this offering to satisfy tax withholding and remittance obligations related to the net issuance of shares of its Class A and Class B common stock in connection with the vesting and settlement of certain restricted stock units and performance-based restricted stock units. Hinge Health will not receive any proceeds from any sale of shares by the Selling Stockholders.
Morgan Stanley, Barclays and BofA Securities are acting as lead book-running managers for the proposed offering. Evercore ISI, RBC Capital Markets, Truist Securities, Stifel, William Blair, Piper Sandler, Canaccord Genuity, KeyBanc Capital Markets, Needham & Company, Raymond James, and KKR Capital Markets LLC are also acting as book-running managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or email: [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email: [email protected], or by telephone: (888) 603-5847; or BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, by email: [email protected], or by telephone: (800) 294-1322.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Hinge Health
Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for its clients. The company has designed its platform to address a broad spectrum of MSK care—from acute injury, to chronic pain, to post-surgical rehabilitation—and the platform can help to ease members’ pain, improve their function, and reduce their need for surgeries, all while driving health equity by allowing members to engage in their exercise therapy sessions from anywhere. The company is headquartered in San Francisco, California.
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