Latham & Watkins Advises Oscar Health, Inc. in IPO

Latham & Watkins represented Oscar Health, Inc., the first health insurance company built around a full stack technology platform, in its initial public offering of 37,041,026 shares of its Class A common stock at a price to the public of US$39 per share. Of the offered shares, 36,391,946 shares are being offered by Oscar and 649,080 shares are being offered by certain of Oscar’s existing selling stockholders. The underwriters have a 30-day option to purchase up to an additional 5,556,153 shares of Class A common stock from Oscar at the initial public offering price, less underwriting discounts and commissions. Oscar will not receive any proceeds from any sale of shares by the selling stockholders. The shares began trading on the New York Stock Exchange on March 3, 2021 under the ticker symbol “OSCR.” The offering closed on March 5, 2021.

Partners Keith Halverstam and Peter Handrinos led the Latham capital markets team, with associates Brittany Ruiz, Sandy Kugbei, Zo Khalid, and Hamna Ahmad. Advice was also provided on tax matters by partner Lisa Watts, with associate Alan Kimball; on benefits and compensation matters by partner Michelle Carpenter, with associate Harrison Taylor; and on public company representation matters by partner Jenna Cooper, with associate Justin McNamee.