LifeStance Health Group, Inc. said proceeds from a 45 million-share sale will go to existing stockholders, while the company will receive none; the public offering is priced at $13.12 per share.
The $13.12 amount is the public offering price. The company did not state how much underwriters will pay the selling stockholders. LifeStance, an outpatient mental health care provider, is not issuing new shares in the transaction.
LifeStance also agreed to buy back 2 million of the offered shares from underwriters at the price they pay the stockholders. The repurchase depends on the offering closing and other customary conditions, while the stock sale can proceed without the buyback. The 2 million-share repurchase covers part of the 45 million shares being offered.
The stockholders will receive the sale proceeds, and LifeStance will pay for the shares it repurchases. The company expects both transactions to be completed around Nov. 12 if the usual closing requirements are met.
