LifeStance Health falls after $275 mln secondary offering prices
BUZZ-LifeStance Health falls after $275 mln secondary offering prices Updates with pricing details
** Shares of outpatient mental healthcare provider LifeStance Health LFST.O down 2.4% to $12.49 premarket on Weds after secondary offering prices
** Scottsdale, Arizona-based LFST announces certain holders part with 22.25 mln shares at $12.35 for about $274.9 mln
** Offering price represents 3.5% discount to stock's last close
** In addition, LFST to repurchase 2 mln of offering shares from the underwriter Barclays
** Private equity firms TPG Capital TPG.O and Summit Partners selling ~18.41 mln shares and ~3.84 mln shares, respectively, per the prospectus
** LFST has ~382.1 mln shares outstanding
** Through Tues, stock up 67% over the past three months and 82% YTD
** 9 of 12 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $13
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))