The Capital Markets team advised the underwriters of Privia Health Group’s (Nasdaq: PRVA) initial public offering of 22,425,000 shares of its common stock at a public offering price of $23 per share. The offering consisted of 5,725,000 shares of common stock offered by Privia and 16,700,000 shares of common stock sold by Privia’s majority stockholder. The number of shares offered and sold by Privia included the full exercise of the underwriters’ option to purchase up to an additional 2,925,000 shares of common stock from Privia. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other expenses payable by Privia, were approximately $131.7 million. Privia will not receive any proceeds from the sale of the shares by its majority stockholder.
Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings.
The Goodwin team was led by Benjamin Marsh, Mitchell Bloom, Humza Bokhari, Ally Gao, Kaitlin Carragher and Nikhil Sethi and included Joel Lehrer, Roger Cohen, Heath Ingram, Jacob Osborn, Justin Pierce, Sarah Bock, Brittany McCants, Janet Andolina, Adam Romig, Leon Peschel, Jacqueline Klosek, Peter LaVigne and Ettore Santucci with invaluable assistance from Nathan Needle.
For additional details on the offering, please read the press release.