- BrightSpring Health Services, a provider of comprehensive home and community health services, has announced its intention to go public with an initial public offering (IPO) on the Nasdaq stock exchange. The company plans to list under the ticker symbol BTSG and is aiming for an IPO date of January 26.
The Louisville-based healthcare company is looking to offer 53.33 million shares priced between $15 and $18. If successful, this would allow BrightSpring Health to raise approximately $960 million. Moreover, the company has the potential to secure up to an additional $400 million from equity units, depending on investor demand and market conditions.
The proceeds from the IPO are earmarked for several strategic financial moves, including the reduction of existing debt and the acquisition of equity held by private equity firm KKR in BrightSpring Health.
If the offering is priced at the upper limit and all options are exercised, the total proceeds could surge to approximately $1.36 billion. This would potentially value BrightSpring Health Services at near $3 billion post-IPO, marking a significant milestone for the company and its investors.
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