Business
The Pennant Group Announces Public Offering of Common Stock
EAGLE, Idaho, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG) (the “Company”) today announced that it has commenced an underwritten
About this update from The Pennant Group, Inc.
[{"type":"text","content":"EAGLE, Idaho, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG) (the “Company”) today announced that it has commenced an underwritten public offering of 3,500,000 shares of common stock of the Company. The Company intends to grant the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock. The Company expects to use the net proceeds from the offering to repay outstanding indebtedness under the Company’s revolving credit facility and any remaining for general corporate purposes. Citigroup and Truist Securities are acting as the lead book-running managers for the offering. Wells Fargo Securities and RBC Capital Markets are acting as joint book-running managers. Oppenheimer & Co. and Stephens Inc. are acting as co-managers. The offering of the common stock is being made pursuant to the Company’s effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146; and Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, by telephone at (800) 685-4786 or by email at [email protected]. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About The Pennant Group, Inc. The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 117 home health and hospice agencies and 54 senior living communities located throughout Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own manageme...