Press Release August 05, 2019

Phreesia Closes $140.6 Million IPO

The Technology team advised Phreesia, Inc. (NYSE: PHR) on the closing of its initial public offering of 10,681,423 shares of common stock, consisting of 7,812,500 shares issued and sold by Phreesia and 2,868,923 shares sold by certain of Phreesia's existing stockholders, which included the full exercise of the underwriters' option to purchase 1,393,229 additional shares from the Selling Stockholders, at a public offering price of $18.00 per share. The total gross proceeds to Phreesia were approximately $140.6 million, and the total gross proceeds to the Selling Stockholders were approximately $51.6 million, before deducting underwriting discounts and commissions and expenses payable by Phreesia. The shares commenced trading on the New York Stock Exchange under the ticker symbol "PHR" on Thursday, July 18, 2019.

Phreesia gives healthcare organizations a suite of robust applications to manage the patient intake process. The company’s innovative SaaS platform engages patients in their care and provides a modern, consistent experience, while enabling healthcare organizations to optimize their staffing, boost profitability and enhance clinical care.

The Goodwin team was led by partners John Egan and Edwin O’Connor and associates Andrew Pusar, Kristin Eberhart, Nicole Corey and Josh Dell (Corporate), Janet Andolina, Alexander Plaum and Elle Srisirikul (Tax), Sarah Bock, Monica Patel and Emily Hingston (Executive Compensation), Sarah Tauman (Labor and Employment), Joel Lehrer and Steven Argentieri (Intellectual Property), Roger Cohen and Allyson Maur (Healthcare Compliance), Kimberly Monty Holzel (Financial Regulatory) and Rick Kline (Opinions), with invaluable assistance from Anne Cataldo, Isabel Klosterman, Pamela Finan and Nathan Needle.

For additional details on the offering, please read the press release.