PACS Group, Inc. | Stephens

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Underwriter

PACS Group, Inc.

$600 Million 09/06/2024 Healthcare Services Complete
Public Companies
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Transaction Details

  • On September 6, 2024, PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”) announced the upsizing and pricing of its underwritten public offering of 16,551,724 shares of its common stock at a public offering price of $36.25 per share
    • The offering consisted of 2,777,778 shares of common stock sold by the Company and 13,773,946 shares of common stock sold by certain selling stockholders
    • The selling shareholders also granted the underwriters a 30-day option to purchase up to an additional 2,482,758 shares of the Company’s common stock
  • PACS intends to use the net proceeds that it receives from the offering to repay a portion of the amounts outstanding under its Amended and Restated 2023 Credit Facility
  • The Company will not receive any proceeds from any sale of shares by the selling stockholders

About the company

PACS Group, Inc. (NYSE: PACS) is a holding company investing in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013, PACS is one of the largest post-acute platforms in the United States. Its independent subsidiaries operate 276 post-acute care facilities across 15 states serving over 29,000 patients daily.

Sources: Company filings and press release.
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    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at
    www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/2001184/000162828024039113/pacs-20240903.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.

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