Ardent Health Announces Pricing of Initial Public Offering
18 July 2024 - 2:46AM
Business Wire
Ardent Health Partners, Inc. (f/k/a Ardent Health Partners, LLC
and collectively, “Ardent Health”) today announced the pricing of
its initial public offering of 12,000,000 shares of its common
stock at a price to the public of $16 per share. In connection with
the offering, Ardent Health granted the underwriters a 30-day
option to purchase up to an additional 1,800,000 shares of common
stock at the initial public offering price, less the underwriting
discounts and commissions.
The shares are expected to begin trading on the New York Stock
Exchange (the “NYSE”) on July 18, 2024, under the symbol "ARDT" and
the offering is expected to close on July 19, 2024, subject to
customary closing conditions. Ardent Health intends to use the net
proceeds from the proposed offering for working capital, to acquire
complementary businesses, products, services or technologies and
for general corporate purposes, which may include repayment of debt
and capital expenditures.
J.P. Morgan, BofA Securities and Morgan Stanley acted as lead
book-running managers for the offering. Stephens Inc., Citigroup,
Leerink Partners, RBC Capital Markets, Truist Securities, and
Mizuho also acted as bookrunners for the offering. Capital One
Securities and Loop Capital Markets acted as co-managers for the
offering.
A registration statement on Form S-1 (the “Registration
Statement”) relating to these securities has been filed with the
Securities and Exchange Commission and was declared effective on
July 17, 2024. The proposed offering is being made only by means of
a prospectus, copies of which may be obtained, when available,
from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email
at prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com; BofA Securities,
NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001,
Attn: Prospectus Department, by telephone at 800-294-1322 or by
email at dg.prospectus_requests@bofa.com; or Morgan Stanley &
Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offers, solicitations or offers to buy,
or any sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include all statements that are not
historical facts. Words such as “anticipates,” “expects,”
“intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,”
“could,” “would,” “will,” “may,” “can,” “continue,” “potential,”
“should” and the negative of these terms or other comparable
terminology often identify forward-looking statements. These
forward-looking statements include any statements regarding the
proposed use of proceeds from the offering, the commencement of
trading of Ardent Health’s common stock on the NYSE and the closing
of the offering. These forward-looking statements are subject to a
number of risks, uncertainties, and assumptions, including those
described under "Risk Factors" in Ardent Health’s Registration
Statement. Except as required by law, Ardent Health has no
obligation to update any of these forward-looking statements to
conform these statements to actual results or revised
expectations.
About Ardent Health
Ardent Health is a leading provider of healthcare in growing
midsize urban communities across the country. With a focus on
people and investments in innovative services and technologies,
Ardent Health is passionate about making healthcare better and
easier to access. Through its subsidiaries, Ardent Health delivers
care through a system of 30 acute care hospitals and more than 200
sites of care with over 1,700 providers across six states.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717646230/en/
Media Relations: Rebecca Kirkham Ardent Health
rebecca.kirkham@ardenthealth.com
Alex Jorgensen Prosek Partners Ardent@prosek.com
Investor Relations:
Investor.Relations@ardenthealth.com