Livongo Closes Initial Public Offering

On July 24, 2019, Livongo announced the pricing of its initial public offering of 12,687,000 shares of its common stock at a price of $28.00 per share for total gross proceeds of approximately $355.2 million. In addition, the underwriters were granted a 30-day option to purchase up to an additional 1,903,050 shares of common stock to cover over-allotments, if any, at the IPO price, less underwriting discounts and commissions. The shares began trading on The Nasdaq Global Select Market under the ticker symbol "LVGO" on July 25. The offering closed on July 29. Including the option exercise, the aggregate gross proceeds to Livongo from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $408.5 million. Wilson Sonsini Goodrich & Rosati represented Livongo in the offering.

Morgan Stanley & Co., Goldman Sachs & Co., and J.P. Morgan Securities acted as lead joint book-running managers for the offering. Piper Jaffray & Co. and SVB Leerink acted as lead co-managers, and Canaccord Genuity, KeyBanc Capital Markets Inc., and Needham & Company acted as co-managers for the offering.

The WSGR team that represented Livongo in the offering included corporate partners Mark Baudler, Lianna Whittleton, and Megan Baier and associates Lillian Jenks, Jackie Tokuda, Brianna Murray, Alex Meyer, and Alex Weber.

For more information, please see Livongo's press release.