Phreesia Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
13 April 2021 - 6:10AM
Business Wire
Phreesia, Inc. (the “Company”) (NYSE:PHR), a leading patient
intake management platform, announced today the closing of the
underwritten public offering of 5,175,000 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
675,000 additional shares of common stock. The shares were sold at
a public offering price of $50.00 per share and were purchased by
the underwriters from the Company at the public offering price,
less the underwriting discount.
The Company received net proceeds from the offering of
approximately $245.3 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, Canaccord
Genuity, Cantor, JMP Securities, KeyBanc Capital Markets, Needham
& Company, Siebert Williams Shank, D.A. Davidson & Co. and
Stephens Inc. 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 is on file with the Securities and
Exchange Commission (the “SEC”) and is 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 healthcare 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 includes express or implied statements that
are not historical facts and are considered forward-looking
statements within the meaning of Section 27A of the Securities Act,
as amended, and Section 21E of the Securities Exchange Act, as
amended, including, without limitation, statements concerning our
expectations regarding the consummation of the Offering and the
terms of the Offering. Forward-looking statements involve
substantial risks and uncertainties. Forward-looking statements
generally relate to future events or our future financial or
operating performance and may contain projections of our future
results of operations or of our financial information or state
other forward-looking information. In some cases, you can identify
forward-looking statements by the following words: “may,” “will,”
“could,” “would,” “should,” “expect,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “ongoing,” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, these statements relate to future events or our future
operational or financial performance and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control. The forward-looking
statements contained in this release are also subject to other
risks and uncertainties, including, without limitation, market
risks and uncertainties and the satisfaction of customary closing
conditions relating to the Offering, and other risks and
uncertainties more fully described in our filings with the SEC,
including in our Annual Report on Form 10-K for the fiscal year
ended January 31, 2021 that has been filed with the SEC and in the
“Risk Factors” section of the preliminary prospectus supplement
related to the Offering. The forward-looking statements in this
press release speak only as of the date on which the statements are
made. We undertake no obligation to update, and expressly disclaim
the obligation to update, any forward-looking statements made in
this press release to reflect events or circumstances after the
date of this press release or to reflect new information or the
occurrence of unanticipated events, except as required by law.
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/20210412005913/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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