KKR entities trim BrightSpring (BTSG) stake with 19.7M-share sale
Rhea-AI Filing Summary
BrightSpring Health Services major shareholder entities associated with KKR reported several transactions in the company’s common stock. An affiliated holder, KKR Phoenix Aggregator L.P., sold 19,715,000 shares in an underwritten public offering at a net price of $40.961 per share. After these transactions, affiliated entities reported holding 41,824,259 shares of common stock. Additional movements included in-kind distributions that allowed ultimate recipients to make charitable donations of shares, with Messrs. Henry R. Kravis and George R. Roberts each donating shares they received. The reporting persons collectively disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest.
Positive
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Negative
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Insights
Large KKR-affiliated sale via offering reshapes BrightSpring’s shareholder base.
The filing shows KKR-affiliated vehicle KKR Phoenix Aggregator L.P. sold 19,715,000 BrightSpring common shares at a net price of $40.961 per share through an underwritten public offering. Following the series of transactions, affiliated entities reported ownership of 41,824,259 shares.
The transactions also include in-kind distributions that enabled partners and shareholders to donate shares, with subsequent gifts of 49,295 and 31,918 shares by Henry R. Kravis and George R. Roberts. The reporting parties expressly disclaim beneficial ownership beyond any pecuniary interest. Actual market impact depends on how this secondary sale and donations are absorbed over time.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 19,715,000 | $40.961 | $807.55M |
| Other | Common Stock | 402,773 | $0.00 | -- |
| Gift | Common Stock | 49,295 | $0.00 | -- |
| Gift | Common Stock | 31,918 | $0.00 | -- |
Footnotes (1)
- The price of $40.961 represents the net price received per share of common stock of BrightSpring Health Services, Inc. for shares sold pursuant to an underwritten public offering. Represents securities held by KKR Phoenix Aggregator L.P. KKR Phoenix Aggregator GP LLC is the general partner of KKR Phoenix Aggregator L.P. KKR Americas Fund XII L.P. is the sole member of KKR Phoenix Aggregator GP LLC. KKR Associates Americas XII L.P. is the general partner of KKR Americas Fund XII L.P. KKR Americas XII Limited is the general partner of KKR Associates Americas XII L.P. KKR Group Partnership L.P. is the sole shareholder of KKR Americas XII Limited. KKR Group Holdings Corp. is the general partner of KKR Group Partnership L.P. KKR Group Co. Inc. is the sole shareholder of KKR Group Holdings Corp. KKR & Co. Inc. is the sole shareholder of KKR Group Co. Inc. KKR Management LLP is the Series I preferred stockholder of KKR & Co. Inc. Messrs. Henry R. Kravis and George R. Roberts are the founding partners of KKR Management LLP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the Reporting Persons are the beneficial owners of any securities reported herein. Represents distributions of such shares in connection with the sale reported herein by KKR Phoenix Aggregator L.P. and certain of its affiliates to their respective partners and shareholders as in-kind distributions. These in-kind distributions are for the purpose of the ultimate recipients making charitable donations of shares of common stock. Represents the donation by Mr. Kravis of shares received in the in-kind distribution described in footnote (4) above. Represents the donation by Mr. Roberts of shares received in the in-kind distribution described in footnote (4) above.
