LEWISVILLE, Texas--(BUSINESS WIRE)--Teladoc, Inc. (NYSE:TDOC) announced the pricing of the previously announced offering of shares of its common stock, which includes 6,650,000 shares offered by Teladoc and 1,600,000 shares offered by certain stockholders of Teladoc named in the preliminary prospectus supplement (the “selling stockholders”) at a price to the public of $16.75 per share. The offering is expected to close on or about January 24, 2017, subject to customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 1,237,500 shares of common stock from Teladoc.
The proceeds of the primary portion of the offering will be used by Teladoc for working capital and general corporate purposes, including to expand its current business through acquisitions of, or investments in, other businesses, products or technologies. Teladoc will not receive any proceeds from shares of common stock to be sold by the selling stockholders.
J.P. Morgan and Piper Jaffray & Co. are acting as joint book-running managers for the offering and as representatives of the underwriters. Wells Fargo Securities and William Blair are also acting as joint book-running managers for the offering. SunTrust Robinson Humphrey and Oppenheimer & Co. are acting as co-managers for the offering.
About Teladoc
Teladoc, Inc. (NYSE:TDOC) is the nation’s leading provider of telehealth services and a pioneering force in bringing the virtual care visit into the mainstream of today’s health care ecosystem. Serving over 7,500 clients — including health plans, health systems, employers and other organizations — more than 17 million members can use phone, mobile devices and secure online video to connect within minutes to Teladoc’s network of more than 3,000 board-certified, state-licensed physicians and behavioral health specialists, 24/7. With national coverage, a robust, scalable platform and a Lewisville, Texas-based member services center staffed by 400 employees, Teladoc offers the industry’s most comprehensive and complete telehealth solution, including primary care, behavioral health care, dermatology, tobacco cessation and more.
