Telehealth provider Teladoc raises $157M in its IPO

Teladoc

Telehealth service provider Teladoc has raised $156.8 million in its IPO and will start trading under the symbol “TDOC” on the New York Stock Exchange. The Dallas, Texas-based company changed the asking price of its share to $19 (from $15-$17), as well as the number of shares it was selling to 8.3 million, up from previously planned 7 million shares.

Teladoc also changed the terms under which underwriters can purchase additional shares: previously they were able to acquire 1.05 million shares, but now they have the option to purchase up to nearly 1.24 million shares of common stock for a period of 30 days. If that happens, the total amount raised would jump to $180.3 million.

Teladoc’s share began trading at $28 a share, well above its $19 IPO price.

In 2013, the company posted a net loss of $6 million on topline revenues of $19.9 million. A year later, a net loss has hit $17 million on topline revenues of $43.5 million, and in the first quarter of 2015 – Teladoc posted revenues of nearly $16.5 million and a net loss of $12.7 million.