The Pennant Group Announces Pricing of Public Offering of Common Stock

Core Viewpoint - The Pennant Group, Inc. has announced a public offering of 3,500,000 shares of common stock at a price of $31.00 per share, aiming to raise approximately$108.5 million in gross proceeds before expenses [1]. Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 525,000 shares [1]. - The net proceeds from the offering will be used to repay outstanding debt under the revolving credit facility and for general corporate purposes [1]. - The expected closing date for the offering is around October 4, 2024, subject to customary closing conditions [1]. Group 2: Underwriters and Registration - Citigroup and Truist Securities are the lead book-running managers for the offering, with Wells Fargo Securities and RBC Capital Markets as joint book-running managers [2]. - The offering is conducted under the Company's effective shelf registration statement filed with the SEC, with a preliminary prospectus supplement filed on September 30, 2024 [2]. Group 3: Company Overview - The Pennant Group, Inc. operates as a holding company for independent subsidiaries providing healthcare services through 117 home health and hospice agencies and 54 senior living communities across multiple states [4].