J.H. Whitney Equity Partners VII, LLC completed a secondary offering of Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH) shares totaling approximately $169.6 million at $11.50 per share, according to regulatory filings.
The transactions were executed across two days. On August 20, 2026, J.H. Whitney VII, L.P. sold 10,112,125 shares for $116.3 million, while PSA Healthcare Investment Holding LLC and PSA Iliad Holdings LLC disposed of 957,918 and 1,426,034 shares respectively, generating $11.0 million and $16.4 million. On August 21, PSA Healthcare Investment Holding LLC sold an additional 2,250,000 shares under an over-allotment option, raising $25.9 million.
Following the sales, J.H. Whitney VII, L.P. and PSA Iliad Holdings LLC no longer hold direct or indirect beneficial ownership of Aveanna shares. PSA Healthcare Investment Holding LLC retains 12,315,892 shares, according to the filings.
Aveanna’s stock has appreciated since the offering, rising from $11.50 to $13.70, a gain of nearly 19%. The shares previously traded near a 52-week high of $13.98, based on InvestingPro data. The company maintains a “Great” financial health score of 3.73 on the platform.
Analysts have responded positively to the secondary offering. RBC Capital raised its price target to $16.00, maintaining an Outperform rating, while Raymond James increased its target to $15.00 with a Strong Buy recommendation. RBC’s upward revision cited expected increases in private duty nursing rates in California effective January 2027 as a key catalyst.
Aveanna reported second-quarter 2026 revenue of $670.5 million, exceeding the $638.62 million consensus estimate and growing 13.7% year-over-year. EBITDA also surpassed expectations by 16%, and the company raised its full-year guidance amid strong demand across its home healthcare services.
