Hinge Health, Inc. (HNGE) stock is soaring 22.66% in its New York Stock Exchange debut on Thursday, following a successful initial public offering (IPO) that raised $437 million. The digital health startup, which specializes in joint and muscle pain treatment, priced its shares at $32 each, the top end of its marketed range.
The company sold approximately 13.7 million shares, with about 8.5 million offered by Hinge Health itself and the remainder by existing shareholders. The strong debut reflects investor confidence in the company's business model and growth potential in the digital health sector.
Hinge Health's impressive first-day performance comes amid a resurgence in the IPO market. The company's successful listing, along with other recent IPOs, signals a renewed appetite for new issues despite ongoing market volatility. This positive reception could encourage other companies waiting in the wings to move forward with their public offerings.
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