Phreesia Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
24 October 2020 - 7:10AM
Business Wire
Phreesia, Inc. (“Phreesia” or the “Company”) (NYSE: PHR), a
leading patient intake management platform, announced today the
closing of the underwritten public offering of 5,750,000 shares of
its common stock (the “Offering”), all of which were sold by the
Company, which includes the full exercise of the underwriters’
option to purchase 750,000 additional shares of common stock. The
shares were sold at a public offering price of $32.00 per share and
were purchased by the underwriters from the Company at the public
offering price, less the underwriting discount.
Phreesia received net proceeds from the offering of
approximately $174.4 million after deducting underwriting discounts
and estimated offering expenses.
J.P. Morgan and William Blair acted as joint book-running
managers for the Offering and as representatives of the
underwriters. Allen & Company LLC and Piper Sandler acted as
passive book-running managers, and Baird, Raymond James, Cantor,
Guggenheim Securities, KeyBanc Capital Markets, Needham &
Company and Siebert Williams Shank acted as co-managers for the
Offering.
The Offering is being made only by means of a prospectus
supplement and an accompanying prospectus. A preliminary prospectus
supplement describing the terms of the offering has been filed with
the SEC. When available, copies of the final prospectus supplement
and accompanying prospectus relating to the Offering may be
obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-866-803-9204; or from William Blair & Company, L.L.C.,
Attention: Prospectus Department, 150 North Riverside Plaza,
Chicago, IL 60606, telephone: 1-800-621-0687.
An automatic shelf registration statement on Form S-3ASR
relating to these securities has been filed with the Securities and
Exchange Commission (the “SEC”) and has become effective. This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or 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 PHREESIA
Phreesia gives healthcare organizations a suite of robust
applications to manage the patient intake process. Our innovative
SaaS platform engages patients in their care and provides a modern,
consistent experience, while enabling healthcare organizations to
enhance clinical care and drive efficiency.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward looking statements,
including among other things, statements concerning the completion
of the Offering, and other statements identified by words such as
“could,” “expects,” “intends,” “may,” “plans,” “potential,”
“should,” “will,” “would,” or similar expressions and the negatives
of those terms. Forward-looking statements are not promises or
guarantees of future performance, and are subject to a variety of
risks and uncertainties, many of which are beyond our control.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, market risks and
uncertainties and the satisfaction of customary closing conditions
relating to the Offering. These and other risks and uncertainties
are described more fully in the "Risk Factors" section of
Phreesia’s Annual Report on Form 10-K for the year ended January
31, 2020, which is on file with the SEC, as updated by any
subsequently filed SEC filings, including Phreesia’s Quarterly
Reports on Form 10-Q, and in the “Risk Factors” section of the
preliminary prospectus supplement related to the Offering filed
with the SEC. Forward-looking statements speak only as of the date
hereof, and, except as required by law, Phreesia undertakes no
obligation to update or revise these forward-looking
statements.
Phreesia qualifies all of its forward-looking statements by
these cautionary statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20201023005518/en/
Investors: Balaji Gandhi Phreesia, Inc.
investors@phreesia.com (929) 506-4950
Media: Maureen McKinney Phreesia, Inc.
mmckinney@phreesia.com (773) 330-8908
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