Oscar Health could raise more than $1B in its initial public offering

Oscar Health officially launched its initial public offering on Monday morning.

The tech-enabled insurance startup is expecting to make 31 million shares available at between $32 and $34, which could raise more than $1 billion. This price would value Oscar at $6.7 billion at the higher end of its range, according to a report in Reuters.

Oscar expects to trade on the New York Stock Exchange under the ticker “OSCR”.

Ten banks are underwriting the IPO, according to Oscar, with Goldman Sachs, Morgan Stanley and Allen & Company acting as lead managing bookrunners.

RELATED: Health technology company Signify Health files for $100M IPO

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