DRAPER, Utah, May 6, 2015 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (Nasdaq:HQY), one of the largest U.S. health savings account (HSA) non-bank custodians, today announced that the underwriters of its previously announced follow-on public offering of 3,850,000 shares of common stock exercised in full their option to purchase an additional 577,500 shares of common stock from HealthEquity at a price to the public of $25.90 per share.

As a result of such exercise, HealthEquity is selling 972,500 shares of common stock, while certain of HealthEquity's stockholders are selling 3,455,000 shares of common stock. HealthEquity will not receive any proceeds from the sale of the shares being sold by the selling stockholders. The offering is expected to close on May 11, 2015, subject to customary closing conditions.

Wells Fargo Securities, LLC is acting as sole book-running manager for the offering. Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated and SunTrust Robinson Humphrey, Inc. are acting as co-managers for the offering.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission and have become effective. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by email at cmclientsupport@wellsfargo.com, or by telephone at (800) 326-5897.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About HealthEquity

Founded in 2002, HealthEquity is one of the nation's oldest and largest dedicated health savings custodians. The Company's innovative technology platform and tax-advantaged accounts help members build health savings, while controlling health care costs. HealthEquity services more than 1.4 million health savings accounts for 70 health plan partners and employees at approximately 27,000 companies across the United States.

CONTACT: Investors Contact:
         
         Westwicke Partners
         Bob East/Asher Dewhurst
         443-213-0500
         Bob.east@westwicke.com

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