Privia Health Announces Pricing of Secondary Offering of $689 Million of Common Stock
May 04 2023 - 8:30AM
Privia Health Group, Inc. (Nasdaq: PRVA), a technology-driven,
national physician enablement company, today announced the pricing
of an underwritten secondary offering of 31,319,473 shares of
common stock by certain selling stockholders at a price of $22.00
per share.
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.
New investors purchasing shares in this
transaction include entities managed by Durable Capital Partners LP
and Rubicon Founders LLC, among others.
Goldman Sachs & Co. LLC acted as the sole
book-running manager for the 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”). 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. 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 public 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 BorchertSVP, Investor & Corporate
CommunicationsIR@priviahealth.com817.783.4841
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