Phreesia Announces Pricing of Public Offering of Common Stock
Phreesia, Inc. (“Phreesia”) (NYSE:PHR), a leading patient intake management platform, announced today the pricing of its previously announced underwritten public offering of 4,500,000 shares of its common stock (the “Offering”) at a price to the public of $50.00 per share, all of which will be sold by the Company. In addition, the Company has granted the underwriters an option for 30 days to purchase up to 675,000 additional shares of common stock at the public offering price, less underwriting discounts.
The Offering is expected to close on April 12, 2021, subject to the satisfaction of customary closing conditions. Phreesia expects to receive net proceeds from the offering of approximately $213.2 million (or approximately $245.3 million if the underwriters exercise their option to purchase additional shares in full) after deducting underwriting discounts and estimated offering expenses.
J.P. Morgan and William Blair are acting as joint book-running managers for the Offering and as representatives of the underwriters. Allen & Company LLC and Piper Sandler are acting 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. are acting 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.