Thursday, August 4, 2011

WageWorks Drops IPO Offering Range

San Mateo-based WageWorks, which provides health and dependent care Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), and commuter benefits and other programs for employers, has dropped its expected initial public offering price, according to a filing form the firm today. The firm said it now expects its IPO price to be between $8.00 and $9.00 per share. The firm had earlier said it expected its common stock to IPO at between $12.00 and $14.00 per share. WageWorks has applied to list on the NYSE as WAGE. WageWorks is venture backed by VantagePoint, Advent International, Camden Partners, and others.