TriZetto Group Tells Public Offering Price
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TriZetto Group Inc., a Newport Beach computer software and services company for the health industry, said Thursday that its public stock offering was priced at $9.25 a share to raise $55.5 million.
The company said in a news release that it priced the 6 million shares through underwriters led by Bear Stearns Cos. and UBS Warburg.
The price is substantially lower than the closing price of $14.13 a share when the offering was announced April 16. The stock lost 46 cents Thursday to close at $9.47 a share on Nasdaq.
The company said it intends to use proceeds for general corporate purposes and working capital. Prior to the secondary offering, TriZetto had about 38 million shares outstanding.
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