Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH) shares fell 9.2% in extended trading Thursday following the announcement of a secondary offering totaling 15 million shares of common stock by certain selling stockholders.
The offering, managed solely by RBC Capital Markets, includes a 30-day option for the underwriter to purchase up to an additional 2.25 million shares from affiliates of J.H. Whitney Equity Partners VII, LLC. Aveanna itself will not issue or receive any proceeds from the sale, with all net proceeds directed to the selling stockholders.
Selling stockholders include affiliates of J.H. Whitney Equity Partners VII, LLC, as well as certain current and former directors and officers of the company. The home care platform, headquartered in Atlanta, operates across 39 states, providing pediatric and adult healthcare services such as nursing, hospice, rehabilitation, school-based occupational nursing, therapy, and day treatment center services.
