Privia Health Announces Pricing of Secondary Offering
Privia Health Group, Inc. (Nasdaq: PRVA) has announced the pricing of an underwritten public offering of 5,000,000 shares of common stock at $23.50 per share, with an option for underwriters to purchase an additional 750,000 shares. The offering is set to close on November 21, 2022. Notably, the company will not receive any proceeds from this secondary offering. Goldman Sachs & Co. LLC leads the underwriting team, which includes Credit Suisse, Jefferies, and others. The offering is detailed in a prospectus filed with the SEC.
- Successful pricing of a secondary offering at $23.50 per share, indicating investor interest.
- Underwriters have a 30-day option to purchase additional shares, potentially increasing demand.
- The company will not receive any proceeds from the secondary offering, limiting financial benefits.
- Secondary offerings can sometimes lead to stock price dilution for existing shareholders.
ARLINGTON, Va., Nov. 16, 2022 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA, or “Privia Health” or the “Company”) announced the pricing of its previously announced underwritten public offering of 5,000,000 shares of common stock by certain selling stockholders at a public offering price of
The Company will not receive any of the proceeds from the secondary offering. The offering is expected to close on November 21, 2022, subject to customary closing conditions.
Goldman Sachs & Co. LLC is acting as lead book-running manager for the offering of common stock and as representative of the underwriters for the offering. Credit Suisse, Jefferies and William Blair are acting as active book-running managers. Canaccord Genuity and SVB Securities are acting as book-running managers. NCMG is acting as co-manager.
A shelf registration statement on Form S-3 (including a prospectus) relating to the securities being sold in the offering was deemed automatically effective upon filing with the Securities and Exchange Commission (the “SEC”). A copy of the final prospectus, when available, may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov, or by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Privia Health
Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Privia Health’s platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the secondary offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. These forward-looking statements are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Privia Health’s control, which could cause actual results to differ materially from those indicated in the forward-looking statements. Those factors include, but are not limited to, the risk factors set forth in Privia Health’s filings with the SEC, including Privia Health’s most recently filed Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K, as the case may be. Copies are available on the SEC’s website at www.sec.gov. Privia Health undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Contact:
Robert P. Borchert
SVP, Investor & Corporate Communications
IR@priviahealth.com
priviapress@priviahealth.com
817.783.4841
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