Privia Health Announces Secondary Offering
May 04 2023 - 6:32AM
Privia Health Group, Inc. (Nasdaq: PRVA) today announced the
commencement of an underwritten secondary offering of 31,319,473
shares of common stock by certain selling stockholders.
The Company will not receive any of the proceeds
from the sale of the shares of its common stock, and the selling
stockholders will bear the costs associated with the sale of such
shares, including underwriting discounts and commissions.
Goldman Sachs & Co. LLC is acting as the
sole book-running manager for the offering.
Entities managed by Durable Capital Partners LP
and Rubicon Founders LLC have expressed an indication of interest
to purchase, severally but not jointly, up to, in the aggregate,
approximately $335 million of the shares of our common stock being
offered in this offering at the offering price. However, because
indications of interest are not binding agreements or commitments
to purchase, the underwriter may determine to sell more, fewer, or
no shares in this offering to such potential investors, or either
or both of these potential investors may determine to purchase
more, fewer, or no shares in this offering. The underwriter will
receive the same underwriting discount on the shares purchased by
these investors as they will on any other shares sold to the public
in this offering.
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”) on November 15,
2022. The offering will be made only by means of a prospectus
supplement and an accompanying prospectus. You may obtain these
documents, including the preliminary prospectus supplement, 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. The Privia
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 proposed 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. 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 BorchertSVP, Investor & Corporate
CommunicationsIR@priviahealth.com817.783.4841
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