Agilon health drops on pricing PE firm CD&R's stake sale

Agilon Health

16/05/2023 12:07

** Agilon health inc's  AGL.N  shares 7.6% at $22 premarket
after overnight secondary offering prices
    ** Healthcare services co announces ~86.88 mln shares sold
by Clayton, Dubilier & Rice (CD&R) at $21.50, 9.7% discount to
last sale
    ** Offering size increased from 70 mln shares
    ** In addition, co to purchase ~9.6 mln of the offering
shares from the underwriters with cash on hand
    ** Transaction cuts private equity firm CD&R's AGL stake
from ~47% to ~27%, or ~94.6 mln shares
    ** JP Morgan and Goldman Sachs acting as lead bookrunners
for the offering
    ** AGL's stock up 47.5% YTD through Mon close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))