Apria Announces Pricing of Initial Public Offering
Apria, Inc. announced the pricing of its initial public offering (IPO) of 7,500,000 shares at $20.00 each, scheduled to trade on Nasdaq under the symbol 'APR' starting February 11, 2021. The underwriters have a 30-day option for an additional 1,125,000 shares. The IPO closing is expected on February 16, 2021. Notably, Apria will not receive any proceeds from this offering as the shares are sold by existing stockholders. Major financial institutions, including Citigroup and Goldman Sachs, are managing the offering.
- The IPO of 7,500,000 shares at $20.00 each opens new market opportunities for existing stockholders.
- The involvement of reputable investment firms indicates strong market confidence.
- Apria will not receive any proceeds from the IPO, limiting its immediate financial benefit.
- Potential dilution of shares if the underwriters exercise their option for additional shares.
INDIANAPOLIS, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Apria, Inc. (the “Company” or “Apria”) (Nasdaq: APR) announced today the pricing of its initial public offering of 7,500,000 shares of its common stock at a price to the public of
Apria will not receive any net proceeds from the sale of its common stock by the selling stockholders, including from any exercise by the underwriters of their option to purchase additional shares of the common stock from the selling stockholders.
Citigroup and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering. BofA Securities, J.P. Morgan and UBS Investment Bank are acting as joint book-running managers for the offering. Piper Sandler, Citizens Capital Markets, Fifth Third Securities and TD Securities are acting as co-managers for the offering.
The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the prospectus relating to the proposed initial public offering may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146 or by email at prospectus@citi.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY, by telephone at 1-212-902-1171, by facsimile at 1-212-902-9316 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by emailing ol-prospectus-request@ubs.com.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Apria
Apria is a leading provider of integrated home healthcare equipment and related services in the United States, providing home respiratory therapy, obstructive sleep apnea treatment and negative pressure wound therapy. Its approximately 275 locations throughout the continental United States and Hawaii serve nearly 2 million patients each year. All of Apria’s locations are accredited by The Joint Commission.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. These forward-looking statements include any statements regarding the Company’s proposed initial public offering. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Risk Factors” in the Company’s registration statement relating to the initial public offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Investor Contacts
Bob.East@westwicke.com
Asher.Dewhurst@westwicke.com
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