Virtual healthcare provider Omada Health (OMDA) priced its initial public offering (IPO) at $19 per share, at the midpoint of the previously estimated price range of $18 and $20 per share as per an amendment to the S-1 filing made in late May.

The offering is expected to close on June 9.

The San Francisco-based company would sell 7.9 million shares of its common stock. Based on the IPO pricing, the company is set to raise gross proceeds of over $150 million.

Additionally, Omada Health has given underwriters a 30-day option to buy up to 1.2 million additional shares of common stock at the IPO price, excluding underwriting discounts and commissions.

At the IPO price, Omada is valued at around $1.1 billion, with the potential for a higher valuation on a fully diluted basis. It had raised $192 million in a Series E funding round led by Fidelity Management & Research in February 2022.

The shares are set to begin trading on the Nasdaq Global Select Market under the ticker symbol “OMDA” on June 6, 2025.

Morgan Stanley, Goldman Sachs & Co, and J.P. Morgan are serving as lead book-running managers for the offering. Barclays and Evercore ISI are acting as joint book-running managers, while Canaccord Genuity and Needham & Company are serving as co-managers.

Last month, digital physical therapy company Hinge Health debuted on the NYSE at $39.25 per share, 23% higher than its IPO price of $32. The shares have risen 20% since then.

Omada provides virtual care programs designed to help patients manage chronic conditions such as prediabetes, diabetes, and hypertension. According to the prospectus, its revenue increased by 57% year-on-year to $55 million in the quarter ended March 31, 2025.

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Two sizable IPOs are scheduled to price in the week ahead.

Stablecoin issuer Circle Internet Group (CRCL) plans to raise $600 million at a $6.2 billion market cap. Circle’s US dollar-denominated payment stablecoin USDC is the #2 ranking stablecoin, holding nearly one-third of the market. The company is poised to benefit from tailwinds in the crypto space, as well as pending legislation that will provide regulatory clarity. It will likely be hurt by declining interest rates in the US, and high distribution costs weigh on margins.

Chronic care management platform Omada Health (OMDA) plans to raise $150 million at a $1.2 billion market cap. Originally focused solely on diabetes prevention and weight health, Omada now offers various cardiometabolic programs, a physical therapy program, GLP-1 Care Tracks, and behavioral health support. The company has demonstrated growth and retention, though growing popularity of GLP-1 therapies could threaten its cardiometabolic offerings.

U.S. IPO Calendar Issuer

Business Deal Size

Market Cap Price Range

Shares Filed Top

Bookrunners Circle (CRCL)

New York, NY $600M

$6,202M $24 – $26

24,000,000 JP Morgan

Citi Cryptocurrency issuer behind the USDC stablecoin. Omada Health (OMDA)

San Francisco, CA $150M

$1,217M $18 – $20

7,900,000 Morgan Stanley

Goldman Provides digital health tools for patients with chronic conditions.