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Bloomberg
Envista Holdings Corp, a dental products maker, raised $589 million after pricing its US initial public offering within the marketed range.
The dental business of medical and industrial equipment manufacturer Danaher Corp sold 26.8 million shares for $22 apiece, according to data compiled by Bloomberg. The shares were offered at $21 to $24 each, according to a regulatory filing.
The company, based in Brea, California, is valued in the IPO at $3.4 billion based on the shares to be outstanding as listed in its filings with the US Securities and Exchange Commission.
Envista is going public as a year of high-profile IPOs are yielding mixed results after a summer lull. Software provider Cloudflare Inc raised $525 million last week, exceeding its target, and its shares have risen 25 percent since then.
SmileDirectClub Inc, the online orthodontic supply company that priced its $1.35 billion IPO above its marketed range last week, has fallen 17 percent below its $23 a share offer price.