Overview
- GMR Solutions, the operator of Global Medical Response, priced its U.S. IPO Tuesday at $15 for 31,914,893 Class A shares, raising about $478.7 million and implying a roughly $3.35 billion valuation, with trading slated Wednesday on the NYSE under GMRS.
- The company lowered its target from an initial $22 to $25 range, reflecting investors’ selective appetite for new listings in the current IPO window.
- GMR plans to redeem Series B preferred shares with the IPO proceeds and, together with a $500 million sponsor-backed private placement and cash on hand, repay part of its first‑lien term loan due 2032.
- Underwriters received a 30‑day option for up to 4,787,233 additional shares to cover over‑allotments, with J.P. Morgan, KKR Capital Markets, BofA Securities, Barclays, Goldman Sachs, Citigroup, Evercore ISI, Morgan Stanley, and UBS as joint bookrunners.
- The EMS provider operates across about 1,400 U.S. counties with roughly 34,000 employees and 5.5 million patient encounters a year, and it carried about $5 billion of long‑term debt after a $5.4 billion refinancing in 2025.