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COVID test maker Cue Health seeks to sell 12 million shares in IPO

Economy, Finance

Test maker and health tech company Cue Health Inc. is seeking to sell more than 12 million shares in a range between $12 and $17 each, looking to raise more than $244 million, according to an amended filing on Wednesday. The San Diego, Calif.-based company filed for an initial public offering earlier this month. Cue Health said its revenue rose to $23 million last year from $6.6 million in 2019. The company listed earnings of 22 cents a share in the six months ended in June, compared with a loss of $1.21 a share in the year-ago period. Underwriters for the IPO include Goldman Sachs and Morgan Stanley, and Cue is expected to trade on the Nasdaq under the symbol HLTH.

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