Bain-Backed Aveanna Gets $458 Million After Lowering IPO Target

Aveanna Healthcare Holdings Inc., which provides in-home health services, raised $458 million in an initial public offering priced at the bottom of a lowered range.

The company, backed by private equity firm Bain Capital, sold more than 38 million shares for $12 each on Wednesday, according to a statement. The Atlanta-based company, which had earlier marketed the shares for $16 to $18 each, lowered that range to $12 to $13 hours before the share sale.

The listing gives Aveanna a market value of about $2.2 billion based on the outstanding shares listed in its filings with the ...