Phreesia, Inc. (“Phreesia”) (NYSE: PHR), a leading patient intake management platform, announced today the closing of the underwritten secondary public offering of a total of 7,762,500 shares of its common stock (the “Shares”) by certain of Phreesia’s existing stockholders (the “Selling Stockholders”), which includes the full exercise of the underwriters’ option to purchase 1,012,500 additional Shares from the Selling Stockholders. The Shares were sold at a public offering price of $26.00 per share and were purchased by the underwriters from the Selling Stockholders at the public offering price less the underwriting discount. The Company did not receive any proceeds from the sale of the Shares.
J.P. Morgan, Wells Fargo Securities and William Blair acted as joint book-running managers for the offering as representatives of the underwriters. Allen & Company LLC and Piper Jaffray acted as passive book-running managers, and Baird and Raymond James acted as co-managers for the offering.
A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on December 12, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, telephone: 1-800-326-5897; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Phreesia gives healthcare organizations a suite of robust applications to manage the patient intake process. Our innovative SaaS platform engages patients in their healthcare and provides a modern, consistent experience, while enabling healthcare organizations to optimize their staffing, boost profitability and enhance clinical care.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward looking statements, including among other things, statements concerning the completion of the Secondary Offering, and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities. These and other risks and uncertainties are described more fully in the preliminary prospectus, and in particular in the section captioned “Risk Factors”, related to the Secondary Offering filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date hereof, and, except as required by law, Phreesia undertakes no obligation to update or revise these forward-looking statements.
Phreesia qualifies all of its forward-looking statements by these cautionary statements.