Latham & Watkins Advises on BrightSpring Health Services’ IPO and Concurrent Offering of Tangible Equity Units

BrightSpring Health Services, Inc., the parent company of leading healthcare service lines that provide complementary home- and community-based pharmacy and provider health solutions for complex populations in need of specialized and/or chronic care, has announced the pricing of an initial public offering of 53,333,334 shares of its common stock at US$13.00 per share and a concurrent offering of 8,000,000 of its 6.75% tangible equity units (Units), with a stated amount of US$50.00 per Unit. Shares of BrightSpring’s common stock and the Units are expected to begin trading on the NASDAQ Global Select Market on January 26, 2024, under the ticker symbols “BTSG” and “BTSGU,” respectively, and the offerings are expected to close on January 30, 2024, subject to customary closing conditions. The completion of the Units offering is conditioned upon the completion of the common stock offering, but the completion of the common stock offering is not conditioned upon the completion of the Units offering.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by partners Marc Jaffe and Ian Schuman, with associates Kaj Nielsen and Angel Marcial. Advice was also provided on equity derivatives matters by partner Reza Mojtabaee-Zamani, with associates Shawn Noh and Hera Liao; on healthcare regulatory matters by partner Terra Reynolds and counsel Nicole Liffrig Molife, with associates Margaret Rote and Heather Modiano; on regulatory and stock exchange matters by counsel Gail Neely; on tax matters by partner Elena Romanova, with associate Ted Gkoo; and on benefits and compensation matters by partner Bradd Williamson, with associate Anne Bracaglia.