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Agilon Health's IPO Lock-up Period Ends Tomorrow

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The lockup period of Long Beach, California-based Agilon Health (AGL) expires on October 12.

Founded in 2016, Agilon Health is a revenue-generating health care services and technology company that partners with primary care physicians to define a new standard of quality, efficiency and patient experience. Most of the revenue is generated from capitation fees under contracts with various Medicare Advantage payors.

For the second quarter ended June 30, 2021, net loss from continuing operations widened to $297 million or $0.79 per share from $3.44 million or $0.01 per share in the year-ago period. The total revenue was $499 million in the second quarter of 2021 compared to $293.5 million in the year-earlier quarter.

Last week, the company appointed Mat Varghese as its new chief people officer, effective October 11, 2021.

Agilon Health made its debut on the Nasdaq Global Select Market on April 15, 2021, offering its shares at a price of $23 each and as mentioned above, the 180 day lockup period will end on October 12, 2021.

AGL opened the first day of trading on April 15, at $28.25 and closed at $31.00 that day. The stock has thus far hit a low of $25.05 and a high of $44.83.

AGL closed Friday's trading at $25.33, down 2.80%.

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