Stockholders of LifeStance Health Group Inc. intend to sell 22,250,000 shares of common stock through a public offering underwritten by Barclays, the company disclosed. The selling shareholders will receive all proceeds from the transaction.
LifeStance itself is not offering any shares and will not receive any proceeds from the sale. However, the company authorized a concurrent purchase of up to 2,000,000 shares from Barclays at the same per-share price the underwriter will pay to selling stockholders. Barclays will not receive fees for the repurchased shares. The buyback is subject to customary conditions and completion of the offering, though the offering is not conditioned on the repurchase closing.
The sale is being conducted pursuant to a shelf registration statement filed with the Securities and Exchange Commission on May 21, 2024, which became effective upon filing.
Headquartered in Scottsdale, Arizona, LifeStance provides virtual and in-person outpatient mental health care across 33 states and more than 550 centers. It employs over 8,500 psychiatrists, advanced practice nurses, psychologists, and therapists. The company's stock trades on the NASDAQ under the ticker LFST.
