PACS Group Raised $101M Via Public Offering Of $2.8M Shares At $36.25/Share, Selling Stockholders Raised $499M From 13.8M Shares

Author: Benzinga Newsdesk | September 06, 2024 03:01am

PACS Group, Inc. (NYSE:PACS) ("PACS" or the "Company") today announced the pricing of its upsized underwritten public offering of 16,551,724 shares of its common stock, which includes 2,777,778 shares of common stock sold by the Company and 13,773,946 shares of common stock sold by certain selling stockholders, at a public offering price of $36.25 per share, for total gross proceeds of approximately $101 million to the Company and approximately $499 million to the selling stockholders, before deducting underwriting discounts and commissions and offering expenses. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,482,758 shares of the Company's common stock at the public offering price, less underwriting discounts and commissions. PACS will not receive any proceeds from any sale of shares by the selling stockholders. The offering is expected to close on September 9, 2024, subject to customary closing conditions.

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