BrightSpring Health drops as KKR to slice stake in secondary offering

Brightspring Health Services

10/06/2025 21:53

** Shares of BrightSpring Health Services BTSG.O down 4.7% in extended trading to $21.20 after secondary offering announced

 ** Home healthcare and hospice provider says certain holders including affiliates of KKR KKR.N and members of management to offload 14 mln shares

** Goldman Sachs and BofA lead bookrunners for offering

** Private equity firm KKR owns ~92.96 mln BTSG shares for ~53% stake, according to LSEG data

** Louisville, Kentucky-based BrightSpring has ~174.3 mln shares outstanding for ~$3.9 bln market cap

** BTSG shares on Tues closed down 6.8% at $22.24, cutting YTD gain to about 31%. Stock hit intraday record high of $25.57 on Mon

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

** 11 of 12 analysts rate stock "strong buy" or "buy", 1 rates "hold" and median PT is $27 - LSEG

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

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