The company announced on Thursday its intention to offer 7.9 million shares at a price range of $18 to $20 per share. If the shares are priced at the upper end of this range, the IPO could raise up to $158 million for Omada Health.
Despite ongoing market volatility, partly attributed to U.S. President Donald Trump's tariff policies, companies in sectors deemed less susceptible to economic downturns are proceeding with their IPO plans. Omada Health, based in San Francisco, California, falls into this category, focusing on virtual care solutions for chronic conditions. The company's last funding round was a Series E in 2022, where it successfully raised $192 million.
Omada Health has formally applied to list its common stock on the Nasdaq exchange under the ticker symbol "OMDA." A consortium of leading financial institutions, including J.P. Morgan, Goldman Sachs, Morgan Stanley, and Barclays, have been appointed as underwriters for the offering. This broad backing from major investment banks underscores confidence in Omada Health's market potential and business model as it transitions to a publicly traded entity.