LifeStance Health falls as PE backers to carve stakes
BUZZ-LifeStance Health falls as PE backers to carve stakes Updates
** Shares of outpatient mental healthcare provider LifeStance Health LFST.O down 2.7% to $12.45 premarket on Weds after launching secondary offering
** Scottsdale, Arizona-based LFST says certain stockholders to part with 22.25 mln shares
** In addition, LFST to repurchase 2 mln of offering shares from the underwriter Barclays
** Private equity firms TPG Capital TPG.O and Summit Partners looking to sell ~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))