---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-026687"
form_type: "8-K"
ticker: "USPH"
cik: "0000885978"
company_name: "U S PHYSICAL THERAPY INC /NV"
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T15:24:11.310369+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-23-026687
- form_type: 8-K
- ticker: USPH
- cik: 0000885978
- company_name: U S PHYSICAL THERAPY INC /NV
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885978/000114036123026687/0001140361-23-026687-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885978/000114036123026687/ny20009213x3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-026687
- JSON: https://secwatch.observer/filing/0001140361-23-026687.json
- Plain text: https://secwatch.observer/filing/0001140361-23-026687.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/885978/000114036123026687/0001140361-23-026687-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.