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LifeStance Health Group (LFST)

lifestancehealth jun09 lt

Scottsdale, Arizona-based LifeStance Health Group will be making its debut on the Nasdaq Global Market today (June 10), under ticker symbol "LFST."

Founded in 2017, LifeStance Health Group is a national provider of behavioral healthcare services with operations across the country in the U.S. via in-person and online-enabled platform.

The company operates or is affiliated with physician groups across 73 Metropolitan Statistical Area or MSAs in 27 states and employs more than 3,300 licensed mental health clinicians as of March 31, 2021.

The company has offered to sell 40.0 million shares of its common stock at a price of $18 each. The underwriters have an option for a period of 30 days to purchase up to an additional 6.0 million shares. The offering is scheduled to close on June 14, 2021.

Underwriters of the IPO:

Morgan Stanley & Co. LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC, Jefferies LLC, TPG Capital BD, UBS Securities, William Blair & Company, Capital One Securities, Inc, AmeriVet Securities, Drexel Hamilton, R. Seelaus & Co., Siebert Williams Shank & Co.

Financial numbers:

The company derives revenue from in-network insurance coverage pursuant to which its subsidiaries or affiliated practices are reimbursed for patient services.

For the first quarter ended March 31, 2021, the company recorded a net loss of $8.7 million on revenue of $143.1 million. This compared with net income of $2.7 million and revenue of $73.1 million in the year-ago period.

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