Aveanna Announces Launch of Initial Public Offering

Rhea-AI Summary

Aveanna Healthcare Holdings has announced its initial public offering (IPO) of 38,236,000 shares, priced between $16.00 and $18.00 per share. The company plans to grant underwriters a 30-day option for an additional 5,735,400 shares. Aveanna aims to list on the Nasdaq under the symbol AVAH. Major financial institutions like Barclays and J.P. Morgan are leading the offering. The registration statement with the SEC has been filed but is not yet effective, and sales are prohibited until it becomes effective.

Positive

• Initial public offering of 38,236,000 shares priced between $16.00 and $18.00 enables capital raising for growth.
• Potential to raise additional funds through the underwriters' option for 5,735,400 shares.

Negative

• Registration statement filed but not yet effective, delaying the ability to sell shares.
• Market reaction unknown; potential dilution concerns for current shareholders.

ATLANTA, April 20, 2021 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings Inc. (“Aveanna”) today announced that it has launched its initial public offering of 38,236,000 shares of its common stock at an anticipated initial public offering price between $16.00 and $18.00 per share pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (“SEC”).

Aveanna also intends to grant the underwriters a 30-day option to purchase up to an additional 5,735,400 shares of its common stock. Aveanna has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “AVAH.”

Barclays, J.P. Morgan, BMO Capital Markets and Credit Suisse are acting as joint lead book-running managers, and BofA Securities, Deutsche Bank Securities, Jefferies, RBC Capital Markets and Truist Securities are acting as book-running managers for the proposed offering. Raymond James, Stephens Inc., Drexel Hamilton and Siebert Williams Shank are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the initial public offering may be obtained from:

• Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at barclaysprospectus@broadridge.com or by telephone at 1-888-603-5847;
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com or by collect telephone at 1-212-834-4533;
• BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, by email at bmoprospectus@bmo.com or by telephone at (800) 414-3627; or
• Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, United States, by email at usa.prospectus@credit-suisse.com or by telephone at 1-800-221-1037.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Aveanna Healthcare

Based in Atlanta, Georgia, Aveanna is a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations. Aveanna directly addresses the most pressing challenges facing the U.S. healthcare system by providing safe, high-quality care in the home, the lower cost care setting preferred by patients.

Contact

Ross Lovern
Kekst CNC
(917) 842-7205
Ross.lovern@kekstcnc.com

FAQ

What is Aveanna's initial public offering date?

The initial public offering (IPO) was announced on April 20, 2021.

How many shares is Aveanna offering in its IPO?

Aveanna is offering 38,236,000 shares in its IPO.

What is the price range for Aveanna's IPO shares?

The anticipated price range for Aveanna's IPO shares is between $16.00 and $18.00.

What is the ticker symbol for Aveanna after its IPO?

Aveanna plans to list its shares under the ticker symbol AVAH on Nasdaq.

Who are the underwriters for Aveanna's IPO?

The underwriters include Barclays, J.P. Morgan, BMO Capital Markets, and Credit Suisse.