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Definitive Healthcare stock rises out of the gate and opens 38% above IPO price

Definitive Healthcare Corp. DH, + 47.28%, rose Wednesday as shares of the Massachusetts-based commercial healthcare news service provider opened 38.0% above its share price. The company had said overnight that it had grossed $ 420.0 million when it sold 15.56 million shares in the IPO, priced at $ 27.00, compared to an expected price of between $ 24 and $ 26 per share raised from an original expectation of between $ 21 and $ 24 share. The stock’s first trading on the Nasdaq was $ 37.25 at 12:26 p.m. Eastern for 1.6 million shares. The stock has since contributed to earnings, rising 40.8% to $ 38.02. The company went public in a very busy week for IPOs, and on a day that the Renaissance IPO ETF IPO, -0.00 was little changed in mid-day trading, while the S&P 500 SPX + 0.48% was down 0., 5%.

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