USPH prices $150M public offering of 1.67M shares at $90.00 per share to repay revolver

U S PHYSICAL THERAPY INC /NV

Offering of 1,666,667 shares at $90.00/share; gross proceeds ~$150M.
Underwriters have 30-day option to purchase up to 250,000 additional shares.
Net proceeds to repay a portion of revolving credit facility, plus general corporate purposes, acquisitions, capex, working capital, dividends.
Joint bookrunners: BofA Securities and J.P. Morgan; Jefferies as bookrunner; co-managers include Regions, Barrington, CJS.
Expected to close May 30, 2023, subject to customary conditions.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

U S PHYSICAL THERAPY INC /NV entered into Underwriting Agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters valued at $90.00 per share (effective 2023-05-24).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters
Value: $90.00 per share
Effective: 2023-05-24

Exact text from the filing

On May 24, 2023, U.S. Physical Therapy, Inc. (the " Company " ) entered into an underwriting agreement (the " Underwriting Agreement " ) with BofA Securities, Inc. and J.P. Morgan Securities LLC, as representatives (the " Representatives " ) of the several underwriters named therein

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182 material agreements filed in the last 30 days. Browse all material agreements →

U S PHYSICAL THERAPY INC /NV filing history →

Source: SEC EDGAR

accession 0001140361-23-026687

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