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 offering.

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 million shares.

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 colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 22, 2021 08:15 ET (12:15 GMT)

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