Goodwin Procter LLP advised the underwriters on the deal.
Privia Health Group, Inc. (“Privia Health”) (Nasdaq: PRVA), a technology-driven, national physician enablement company that collaborates with medical groups, health plans and health systems, announced the closing of its initial public offering of 22,425,000 shares of its common stock at a public offering price of $23.00 per share. The offering consisted of 5,725,000 shares of common stock offered by Privia Health and 16,700,000 shares of common stock sold by Privia Health’s majority stockholder.
The number of shares offered and sold by Privia Health included the full exercise of the underwriters’ option to purchase up to an additional 2,925,000 shares of common stock from Privia Health. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other expenses payable by Privia Health, were approximately $131.7 million. Privia Health will not receive any proceeds from the sale of the shares by its majority stockholder.
Privia Health shares began trading on the Nasdaq Global Select Market on April 29, 2021, under the ticker symbol “PRVA”.
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint lead book-running managers for the offering and as representatives of the underwriters for the offering. Credit Suisse, Piper Sandler and William Blair also acted as active book-running managers. Canaccord Genuity and Truist Securities acted as book-running managers for the offering, and R. Seelaus & Co., LLC and Siebert Williams Shank acted as co-managers for the offering.
The Goodwin team was led by Mitchell Bloom (Picture), Ben Marsh, Humza Bokhari, Kaitlin Carragher, Ally Gao, and included Joel Lehrer, Roger Cohen, Nikhil Sethi, Andrew Hess, Heath Ingram, Jake Osborn, Sarah Bock, Brittany McCants, Janet Andolina, Adam Romig, Leon Peschel, Jacqueline Klosek, Peter LaVigne, and Ettore Santucci, with invaluable assistance from Nathan Needle.
Involved fees earner: Janet Andolina – Goodwin Procter; Mitchell Bloom – Goodwin Procter; Sarah Bock – Goodwin Procter; Humza Bokhari – Goodwin Procter; Kaitlin Carragher – Goodwin Procter; Roger Cohen – Goodwin Procter; Andrew Hess – Goodwin Procter; Heath Ingram – Goodwin Procter; Jacqueline Klosek – Goodwin Procter; Peter LaVigne – Goodwin Procter; Joel Lehrer – Goodwin Procter; Ben Marsh – Goodwin Procter; Brittany McCants – Goodwin Procter; Jacob Osborn – Goodwin Procter; Leon Peschel – Goodwin Procter; Adam Romig – Goodwin Procter; Nikhil Sethi – Goodwin Procter;
Law Firms: Goodwin Procter;
Clients: Canaccord Genuity; Credit Suisse; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Piper Sandler; R. Seelaus & Co.; Siebert Williams Shank & Co. LLC; Truist Securities Inc. ; William Blair & Company, L.L.C.;