BrightSpring Announces Major Secondary Stock Offering Plan

BrightSpring Health Services Announces Stock Offering

BrightSpring Health Services, Inc. (NASDAQ: BTSG) is making headlines with its recent announcement regarding a secondary offering of common stock. This offering will help further strengthen its position in the health services sector, particularly for complex populations in need of home and community-based care.

Details of the Offering

The company revealed that certain stockholders, including affiliates of Kohlberg Kravis Roberts & Co. L.P. and select members of its management team, plan to sell a combined total of 14 million shares of common stock in this underwritten offering. This is substantial, showcasing the confidence that existing shareholders and management have in the company’s future growth.

Role of the Underwriters

Goldman Sachs & Co. LLC and BofA Securities have taken on the role of lead book-running managers for this offering. In addition, KKR Capital Markets LLC is set to serve as the lead managing agent.

Why This Matters for Investors

Investors should note that no shares will be sold by BrightSpring itself in this transaction. Instead, all proceeds will go directly to the selling stockholders. This secondary offering can provide additional liquidity for these stockholders while enabling investors to acquire shares in one of the leading health service providers in the country.

Expectations from the Offering

Furthermore, the KKR Selling Stockholder is anticipated to provide an option to underwriters allowing them to purchase an additional 2.1 million shares within a 30-day period. This option suggests a level of confidence in the demand for BrightSpring’s shares and could indicate favorable market conditions for the company in the near future.

Implications of the Shelf Registration

This stock offering is being facilitated under a shelf registration statement that was recently filed with the U.S. Securities and Exchange Commission (SEC). This document, which includes a prospectus, allows BrightSpring to effectively streamline the offering process of its securities.

Accessing the Prospectus

For those interested in the specifics of the offering, prospectus supplements and accompanying documents can be requested from the designated contact point within Goldman Sachs. It’s truly crucial for potential investors to review these documents before making any decisions.

Understanding the Forward-Looking Statements

It is essential for investors to grasp the nature of forward-looking statements made by BrightSpring. Such statements reflect expectations about future performance based on current information. However, these do not guarantee outcomes due to various inherent risks and uncertainties that can arise in a dynamic economic landscape. It’s important to conduct due diligence and consult the latest filings with the SEC for a deeper understanding of the potential risks involved.

Connecting with BrightSpring

For further inquiries or detailed information, stakeholders and interested parties can reach out directly to the Investor Relations team. David Deuchler of Gilmartin Group LLC is the contact person for investor relations, and inquiries can be sent via email to ir@brightspringhealth.com.

Frequently Asked Questions

What is the purpose of BrightSpring's stock offering?

The offering aims to provide liquidity for selling stockholders while allowing new investors to purchase shares in the company.

Who is managing the stock offering?

Goldman Sachs & Co. LLC and BofA Securities are the lead managers for this underwritten offering.

Will BrightSpring itself be selling any shares?

No, BrightSpring will not be selling any shares; all proceeds will go to the selling stockholders.

How can investors access the prospectus?

Investors can request the prospectus and its supplements from Goldman Sachs by contacting them directly.

What are forward-looking statements?

Forward-looking statements are predictions or expectations about potential future events or performances, which carry inherent risks and uncertainties.

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