Phreesia’s $245.3 Million Common Stock Offering

Latham & Watkins LLP represented the underwriters in the offering.

Phreesia, Inc., a leading patient intake management platform, has announced the closing of the underwritten public offering of 5,175,000 shares of its common stock all of which were sold by the Company, which includes the full exercise of the underwriters’ option to purchase 675,000 additional shares of common stock. The shares were sold at a public offering price of US$50 per share and were purchased by the underwriters from the Company at the public offering price, less the underwriting discount. The Company received net proceeds from the offering of approximately US$245.3 million after deducting underwriting discounts and estimated offering expenses.

J.P. Morgan and William Blair acted as joint book-running managers for the Offering and as representatives of the underwriters. Allen & Company LLC and Piper Sandler acted as passive book-running managers, and Baird, Raymond James, Canaccord Genuity, Cantor, JMP Securities, KeyBanc Capital Markets, Needham & Company, Siebert Williams Shank, D.A. Davidson & Co. and Stephens Inc. acted as co-managers for the Offering.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partner Stelios Saffos (Picture), with associates Brittany Ruiz, Brian Yoon, and Egzon Sulejmani. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim, with associate Ron Moore; on payments matters by Washington, D.C. partner Todd Beauchamp, with associate Loyal Horsley; and on data privacy and cybersecurity matters by Washington, D.C. partner Jennifer Archie, with counsel Marissa Boynton.

Involved fees earner: Jennifer Archie – Latham & Watkins; Todd Beauchamp – Latham & Watkins; Marissa Boynton – Latham & Watkins; Loyal Horsley – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Ronald Moore – Latham & Watkins; Brittany Ruiz – Latham & Watkins; Stelios Saffos – Latham & Watkins; Brian Suk Jin Yoon – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Allen & Company LLC; Baird Capital Partners; Canaccord Genuity; Cantor Fitzgerald; D.A. Davidson & Co.; J.P. Morgan Securities LLC; JMP Securities LLC; KeyBanc Capital Markets; Needham & Company; Piper Sandler; Raymond James & Associates, Inc.; Siebert Williams Shank & Co. LLC; Stephens Inc.; William Blair & Company, L.L.C.;

Author: Martina Bellini