STUART,
Fla., Dec. 24, 2024 /PRNewswire/ -- Health
In Tech, an Insurtech platform company backed by third-party AI
technology, today announced the closing of its initial public
offering of 2,300,000 shares of its Class A common stock at a
public offering price of $4.00 per
share, for gross proceeds of $9,200,000, before deducting underwriting
discounts, commissions, and estimated offering expenses.
The Company has granted the underwriter an option, exercisable
within 30 days from the date of the final prospectus, to purchase
an additional 345,000 shares of Class A common stock from Health In
Tech at the initial public offering price, less underwriting
discounts and commissions. Assuming such option is fully exercised,
the Company may raise a total of approximately US$10,580,000 in gross proceeds from the
Offering
Health In Tech intends to use the net proceeds from the offering
for system enhancements, expansion of service offerings, sales and
distribution channels, talent development and retention, working
capital, and other general corporate purposes.
American Trust Investment Services, Inc. acted as the sole
book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-281853)
relating to the shares was filed with the Securities and Exchange
Commission and became effective on December
19, 2024. This offering was made only by means of a
prospectus, forming part of the effective registration statement. A
copy of the prospectus relating to the offering can be obtained
when available, by contacting American Trust Investment Services,
Inc., 230 W. Monroe Street, Suite
300, Chicago, IL 60606, or via
E-Mail at ECM@amtruinvest.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of any 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 Health In Tech
Health in Tech ("HIT") is an Insurtech platform company backed
by third-party AI technology. We offer a dynamic marketplace
designed to create customized healthcare plan solutions while
streamlining processes through vertical integration, process
simplification, and automation. By eliminating friction and
complexities, HIT enhances value propositions for employers and
optimizes underwriting, sales, and service workflows for Managing
General Underwriters (MGUs), insurance carriers, licensed brokers,
and Third-Party Administrators (TPAs). Learn more at
healthintech.com.
Forward-Looking Statements Regarding Health In Tech
Certain statements in this press release are forward-looking
statements for purposes of the safe harbor provisions under the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements may include estimates or expectations
about Health In Tech's possible or assumed operational results,
financial condition, business strategies and plans, market
opportunities, competitive position, industry environment, and
potential growth opportunities. In some cases, forward-looking
statements can be identified by terms such as "may," "will,"
"should," "design," "target," "aim," "hope," "expect," "could,"
"intend," "plan," "anticipate," "estimate," "believe," "continue,"
"predict," "project," "potential," "goal," or other words that
convey the uncertainty of future events or outcomes. These
statements relate to future events or to Health In Tech's future
financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause Health In Tech's
actual results, levels of activity, performance, or achievements to
be different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. You should not place undue reliance on
forward-looking statements because they involve known and unknown
risks, uncertainties and other factors which are, in some cases,
beyond Health In Tech's control and which could, and likely will,
affect actual results, levels of activity, performance or
achievements. Any forward-looking statement reflects Health In
Tech's current views with respect to future events and is subject
to these and other risks, uncertainties and assumptions relating to
Health In Tech's operations, results of operations, growth strategy
and liquidity.
Investor Contact
Investor Relations:
ir@healthintech.com
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SOURCE Health In Tech
