Aveanna Healthcare Holdings Inc. shares fell 7.6% in pre-market trading on Monday after existing shareholders launched a secondary offering priced at a discount to the prior session's close.
The offering consists of 15 million shares at $11.75 each, a 9% discount to Friday's closing price of $12.97. Proceeds from the sale will go to selling stockholders, including affiliates of J.H. Whitney Equity Partners VII, LLC and certain current and former directors and officers. Aveanna itself is not issuing new shares and will not receive any proceeds.
Underwriters were granted a 30-day option to purchase up to an additional 2.25 million shares. The move follows a broader market recovery in pre-market trading, with U.S. equity futures rebounding after a sharp sell-off in the prior session driven by rising bond yields. The S&P 500, Nasdaq, and Dow Jones were all higher in early trading.
Aveanna Healthcare provides home healthcare services for children and adults with complex medical needs.
