LifeStance Health Group, Inc. Announces Closing of Initial Public Offering

Rhea-AI Summary

LifeStance Health Group announced the successful closing of its initial public offering, selling 40 million shares of common stock at $18.00 per share. The company offered 32.8 million shares while selling stockholders contributed 7.2 million shares. The underwriters have an option to purchase an additional 6 million shares within 30 days. LifeStance Health, a leading provider of outpatient mental health care, trades on the Nasdaq under the ticker symbol LFST.

Positive

• Raised significant capital through initial public offering.
• Increased visibility and credibility by listing on the Nasdaq.
• Potential for growth in the mental health sector.

Negative

• Dilution of existing shareholders due to substantial share offering.
• Market fluctuations may affect the stock price post-IPO.

SCOTTSDALE, Ariz., June 14, 2021 /PRNewswire/ -- LifeStance Health Group, Inc. ("LifeStance Health" or the "Company"), one of the nation's largest providers of outpatient mental health care, today announced the closing of its initial public offering of 40,000,000 shares of its common stock at a public offering price of $18.00 per share. In the offering, the Company sold 32,800,000 shares and selling stockholders sold 7,200,000 shares. The underwriters have a 30-day option to purchase up to an additional 6,000,000 shares of common stock from the selling stockholders at the initial public offering price less underwriting discounts and commissions. LifeStance Health's common stock is listed on the Nasdaq Global Select Market under the ticker symbol "LFST."

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies acted as lead book-runners for the offering. TPG Capital BD, LLC, UBS Investment Bank and William Blair acted as joint book-runners for the offering and Capital One Securities, AmeriVet Securities, Drexel Hamilton, R. Seelaus & Co., LLC and Siebert Williams Shank acted as co-managers for the offering.

This offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from:

Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, 2nd Floor, New York, NY 10014

Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street, New York, New York 10282
Phone: 1-866-471-2526
Fax: 212-902-9316
Email: Prospectus-ny@ny.email.gs.com

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood, NY 11717
Phone: 866-803-9204

Jefferies LLC
Attention: Equity Syndicate Prospectus Department
520 Madison Avenue, 2nd Floor, New York, NY 10022
Phone: 1-877-821-7388
Email: Prospectus_Department@Jefferies.com

A registration statement on Form S-1 relating to the sale of these securities was declared effective by the Securities and Exchange Commission on June 9, 2021.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About LifeStance Health Group, Inc.

Founded in 2017, LifeStance Health is one of the nation's largest providers of virtual and in-person outpatient mental health care for children, adolescents and adults experiencing a variety of mental health conditions. The company delivers personalized, data-driven and comprehensive care to help patients stay healthy and employs over 3,300 psychiatrists, advanced practice nurses, psychologists and therapists. LifeStance Health currently operates across 27 states and over 370 centers. 

 

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SOURCE LifeStance Health

FAQ

What are the details of LifeStance Health's IPO?

LifeStance Health completed its IPO by selling 40 million shares at $18.00 per share, with 32.8 million shares from the company and 7.2 million from selling stockholders.

How many shares can the underwriters purchase after LifeStance Health's IPO?

The underwriters have a 30-day option to buy up to an additional 6 million shares from the selling stockholders.

What stock exchange is LifeStance Health listed on?

LifeStance Health is listed on the Nasdaq Global Select Market under the ticker symbol LFST.

Who were the underwriters for LifeStance Health's IPO?

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan, and Jefferies were the lead underwriters for the offering.

What was the purpose of LifeStance Health's IPO?

The IPO aimed to raise capital to support the company's growth and operational needs in the mental health sector.