BrightSpring Health drops as KKR, management to sell shares
BUZZ-BrightSpring Health drops as KKR, management to sell shares ** BrightSpring Health Services' BTSG.O shares down 3.5% post-market to $58.77 after secondary offering news
** Home healthcare and hospice provider says certain stockholders, including affiliate of KKR KKR.N and members of management to offload 15 mln shares
** Also, BTSG to concurrently repurchase from the underwriter a number of offering shares up to the lesser of 10% of the deal or $60 mln worth
** Goldman Sachs sole bookrunner
** Louisville, Kentucky-based BTSG has ~193.9 mln shares outstanding
** Buyout firm KKR and CEO Jon Rousseau offloaded shares in Mar secondary offering priced at $41.15
** BTSG shares closed up 2.6% at $60.88 on Weds, up ~63% YTD
** All 16 analysts are bullish on the stock including 6 "strong buy" ratings; median PT $63, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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