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Stock impact report

Medical Supply Firm Medline Is Set to Start Trading Today in Biggest IPO Since Rivian [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
The company raised more than $6 billion with the sale of 216 million shares priced at $29 each, making its the largest U.S. IPO in terms of proceeds since Rivian's in 2021. Medline is set to start trading on the Nasdaq today, after the medical supply company raised $6.26 billion in one of the biggest initial public offerings in recent years. The medical supply giant, which will debut under the " MDLN " stock ticker, said Tuesday that it sold just over 216 million shares in its IPO at $29 per share, at the higher end of its previously anticipated range of $26 to $30. The company said it plans to use those proceeds to pay down some of its debts. Medline, which sells more than 335,000 different medical and surgical products from protective equipment such as face masks to testing kits, said in a regulatory filing that sales have grown every year since the company's founding. Medline reported net income of $977 million on $20.65 billion in revenue for the first nine months of the Show less Read more
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