LifeStance Health stock dips 11%, prices secondary offering at 6.25

Provider of virtual and in-person outpatient mental health care - LifeStance Health Group ( NASDAQ: LFST ) priced a secondary offering of 20M shares at $6.25 per share. Underwriters have a 30-day option to purchase up to an additional 3M shares.

The selling stockholders will receive all proceeds, and the company will not receive any proceeds as it is not selling any shares. The offering is expected to settle and close on or about May 24, 2024. The stock price stumbled ~11% to $6.

69 on Wednesday during pre-market trade. More on LifeStance Health Group LifeStance Q4 Earnings Review: Monetizing Mental Health Virtually Is Problematic LifeStance stockholders selling 20M shares in secondary offering LifeStance Health Group reports Q4 results.