Bright Health hits NYSE with downsized IPO; TikTok announces new feature for content integration; and more news briefs

Insurtech company Bright Health Group began trading today on the New York Stock Exchange in a downsized initial public offering of 51.35 million shares priced at $18 per share.

The company originally planned to sell 60 million shares for between $20 and $23 per share. Instead, Bright Health will raise about $924.3 million with the updated offering, or $1.035 billion if the underwriters exercise their option to purchase additional 6.162 million shares of common stock at the IPO price.

The IPO values the Minneapolis-based company at $11.23 billion, Reuters reports.

Bright Health is trading under the symbol “BHG” and will be available until June 28, 2021, subject to customary closing conditions. J.P. Morgan, Goldman Sachs, Morgan Stanley and Barclays are the lead underwriters for the offering.

Video social media app TikTok is previewing a new feature that hopes to enable better information-sharing and create deeper interactions with the platform’s content.

Called Jumps, the new feature lets creators embed “mini-programs” into their videos so users can view the additional content within the TikTok app. The idea is that Jumps will serve as an extension for educational and entertaining content.

Jumps are built using HTML5, which allows for simple creation and deployment, according to the announcement.

At launch, only a select group of companies has access to create Jumps, including recipe sharing app Whisk and meditation app Breathwrk. TikTok says it will continue to roll out the availability of Jumps in the coming weeks.

Neurotech startup humm is beginning a public beta for its brain-stimulating forehead patch that the company says can enhance users’ ability to learn.

The humm “learnable” uses transcranial alternating current stimulation (tACS) to increase the brainwaves responsible for memory. The device can help users boost focus, retain information and multitask better for up to two hours after use and is designed for everyday wear, according to the announcement.

Consumers can sign up now for the beta program, which will run for about four months before humm’s official launch in early 2022.

A new player in the wearable game is sure to give 90’s kids nostalgic feelings, as Tamagotchi is getting reinvented as a smartwatch for its 25th anniversary.

The revamped wrist-worn version, called the Tamagotchi Smart, comes with a colored touch screen, a microphone function to call out to the Tamagotchi and a pedometer. TamaSma Cards, which will be sold separately, can be installed into the smartwatch for exclusive characters, items and games.

Tamagotchi Smart also has wireless connectivity so users can play games and sync with their friends, and comes with 30 hours of battery life, according to a FAQ.

Unfortunately for international Tamagotchi lovers, the wearable will only be available in Japan at first, according to Gizmodo. The official launch date is November 23, but interested consumers must enter a lottery for a chance to buy the device – which costs about $68 when converted from yen, plus $10 for the TamaSma Cards.

 


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