Privia Health Sets IPO at 19.5 Million Shares, Sees Pricing at $17-$19 Each
By Colin Kellaher
Privia Health Group Inc. on Thursday said it plans to sell 2.8
million shares at between $17 and $19 apiece in its initial public
The Arlington, Va., healthcare platform said its current owner,
Brighton Health Group Holdings LLC, plans to sell 16.7 million
shares in the offering, bringing the size of the IPO to 19.5
Privia said it also agreed to sell $92 million of stock to
Anthem Inc. in a private placement at the IPO price.
At the $18 midpoint of the expected price range, Privia said it
sees net proceeds of about $135.6 million from the IPO and private
placement, or roughly $185.1 million if the underwriters exercise
an option to buy an additional 2.93 million shares.
Brighton would still own more than 75% of Privia after the IPO,
while Anthem would own about 4.9%, according to a filing with the
U.S. Securities and Exchange Commission.
Privia, which has applied to list its shares on the Nasdaq
Global Select Market under the symbol PRVA, said it would have
about 103.9 million shares outstanding after the IPO, assuming
exercise of the overallotment option, for a market capitalization
of roughly $1.87 billion at the $18-a-share pricing midpoint.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
April 22, 2021 08:15 ET (12:15 GMT)
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