BrightSpring Health down as KKR slices stake in $305 mln secondary offering

Brightspring Health Services

11/06/2025 13:55

** Shares of BrightSpring Health Services BTSG.O down 1.8% premarket to $21.83 after secondary offering priced

 ** Home healthcare and hospice provider late Tues announced 14 mln shares sold by affiliates of KKR KKR.N and members of management at $21.75 for total raise of ~$304.5 mln

** Offering priced at 2.2% discount to stock's last sale

** Private equity firm KKR sold ~13.3 mln shares, reducing its stake by 8% to ~45%, while CEO Jon Rousseau offloaded about 532,000 shares, per the SEC prospectus filing

** Louisville, Kentucky-based BrightSpring has ~175.8 mln shares outstanding as of Jun 9 for $3.9 bln market cap

** Goldman Sachs, BofA, Jefferies and Morgan Stanley are lead bookrunners for offering

** Through Tues, BTSG shares up 31% YTD. Stock hit intraday record high of $25.57 on Mon

** Co went public in Jan 2024 IPO priced at $13

** 10 of 11 analysts rate stock "strong buy" or "buy", 1 rates "hold" and median PT is $27, latest LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))