Latham & Watkins Represents PACS Group, Inc. and Selling Stockholders in Upsized US$450 Million IPO

PACS Group, Inc., a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care, has announced the pricing of its upsized initial public offering of 21,428,572 shares of its common stock being sold by the Company at a public offering price of US$21.00 per share. In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,214,284 shares of the Company’s common stock at the initial public offering price, less underwriting discounts and commissions. PACS will not receive any proceeds from any sale of shares by the selling stockholders. The shares began trading on the New York Stock Exchange on April 11, 2024, under the ticker symbol “PACS.” The offering is expected to close on April 15, 2024, subject to customary closing conditions.

Latham & Watkins LLP represents PACS Group and the selling stockholders in the offering with a capital markets team led by Orange County/Bay Area partners Shayne Kennedy and Ross McAloon, with associates Jacob Walsh, Tiana Baghdikian, Kennedy Holmes, and Lexi Zintel. Advice was also provided on healthcare regulatory matters by Washington, D.C. partner Jason Caron and counsel Nicole Liffrig Molife, with associate Margaret Rote; on tax matters by Los Angeles/Century City partner Pardis Zomorodi, with associates Derek Gumm and Joseph Marcus; on data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett;* and on compensation and benefits matters by Los Angeles/Orange County partner Michelle Carpenter and Orange County counsel Sara Schlau, with associate Julie Voorhes.

*Admitted to practice in New South Wales (Australia) only