Bloomfield managed care company Cigna Corp. priced its offering of 15.2 million common shares at $42.75 apiece Thursday, grossing $850 million toward its buyout of HealthSpring Inc.
Morgan Stanley, Citigroup and Deutsche Bank were joint book runners for the offering.
Cigna announced the offering Wednesday to help pay for a portion of its $3.8 billion acquisition of its fellow insurer.
Cigna says it will grant underwriters a 30-day option to buy an additional 2.25 million shares to cover excess demand.
