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Stock Alert: Phreesia Touches New 52-week High After Pricing Offering

Shares of Phreesia, Inc. (PHR), an integrated SaaS-based software and payment platform for the healthcare industry, are gaining more than 9 percent or $3.07 in Wednesday's morning trade at $35.59, after touching a new 52-week high of $36.28.

Wednesday, Phreesia said it has priced its previously announced underwritten public offering of 5 million shares of its common stock at $32 per share, all of which will be sold by the company.

The offering is expected to close on October 23, 2020. Phreesia expects to receive net proceeds of about $151.6 million, or about $174.4 million if the underwriters exercise their option to buy the additional shares in full.

Phreesia has traded in a range of $16.01 to $36.28 in the past 52 weeks.

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