Accolade CEO Rajeev Singh can’t imagine a more pertinent time to be taking his health care technology company public.
Despite concerns that surging coronavirus cases might soon weaken investor appetites, Singh watched Thursday as the company — which splits its headquarters between Seattle and Pennsylvania — debuted on the Nasdaq Stock Market with its shares soaring 35%, closing at $29.70. Accolade, listed under the ACCD ticker symbol, raised $220 million through an initial public offering of 10 million shares at $22 each — set above analysts’ estimated range of $19 to $21.
