SCOTTSDALE, Ariz., June 14, 2021 /PRNewswire/ — LifeStance Health Group, Inc. (“LifeStance Health” or the “Company”), one of the nation’s largest providers of outpatient mental health care, has announced the closing of its initial public offering of 40,000,000 shares of its common stock at a public offering price of $18.00 per share. In the offering, the Company sold 32,800,000 shares and selling stockholders sold 7,200,000 shares. The underwriters have a 30-day option to purchase up to an additional 6,000,000 shares of common stock from the selling stockholders at the initial public offering price less underwriting discounts and commissions. LifeStance Health’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “LFST.”
About LifeStance Health Group, Inc.
Founded in 2017, LifeStance Health is one of the nation’s largest providers of virtual and in-person outpatient mental health care for children, adolescents and adults experiencing a variety of mental health conditions. The company delivers personalized, data-driven and comprehensive care to help patients stay healthy and employs over 3,300 psychiatrists, advanced practice nurses, psychologists and therapists. LifeStance Health currently operates across 27 states and over 370 centers.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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