LifeStance Prices 35 Million-Share Secondary at $8.15, Plans to Repurchase 6 Million
The sale gives existing holders liquidity, with a company buyback that could slightly trim the share count.
Overview
- LifeStance priced a secondary public offering of 35,000,000 shares at $8.15 per share, with all proceeds going to selling stockholders.
- The company is not issuing new shares or receiving cash and has agreed to repurchase 6,000,000 shares from the underwriter if the deal closes.
- The repurchase is conditioned on completion of the offering and other customary closing conditions, and the underwriter will not be paid on shares the company buys.
- J.P. Morgan is the sole underwriter for the deal, which is being executed under an SEC shelf registration that became effective in May 2024.
- Earlier this week, LifeStance reported Q1 net income of $14.2 million, up about 1,908% year over year, revenue growth of 21% to $403.5 million, and higher full‑year and Q2 revenue targets, and the stock jumped to a two‑year intraday high with a roughly 20% gain.