Bain-Backed Aveanna Falls 3.9% in Debut After $459 Million IPO

Aveanna Healthcare Holdings Inc., which provides in-home health services, fell 3.9% in its trading debut after raising $459 million in an initial public offering priced at the bottom of a lowered range.

Shares of the company, backed by private equity firm Bain Capital, closed Thursday at $11.53, giving Aveanna a market value of about $2.1 billion. Atlanta-based Aveanna sold more than 38 million shares for $12 each Wednesday after marketing them for $12 to $13, a range that had been lowered from $16 to $18 hours before the share sale.

Aveanna has expanded its operation over the past ...