GMR Solutions cuts IPO price to $15

Investing.com -- Emergency medical services provider GMR Solutions slashed the proposed offer price for its U.S. initial public offering on Tuesday.

The Lewisville, Texas-based company is now marketing its proposed offering of 31,914,893 shares at $15 apiece, compared with its earlier proposed range of $22 to $25 apiece.

At the current valuation, the company stands to raise roughly $479 million versus as much as $798 million previously.

The company intends to list on the New York Stock Exchange under the ticker symbol GMRS.

J.P. Morgan, KKR Capital Markets LLC, BofA Securities, Barclays, Goldman Sachs & Co. LLC, Citigroup, Evercore ISI, Morgan Stanley, and UBS Investment Bank serve as joint book-runners for the offering. Capital One Securities, Loop Capital Markets, Regions Securities LLC and Strong Capital Markets act as co-managers.

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