BrightSpring Health Services, a community-based healthcare services provider backed by private investment firm Kohlberg Kravis Roberts & Co (KKR), is looking to raise as much as $1.36bn in a public offering and a sale of convertible securities, according to a report by Bloomberg.
The report cites a recent regulatory filing as revealing that the company is planning to market 53.3m shares at between $15 and $18 each, which would raise about $960m at the top end of that range.
According to the filing, BrightSpring is also looking to raise $400m from a sale of 8m tangible equity units, or mandatory convertible securities, at a fixed price of $50 each.
KKR originally invested in BrightSpring in 2019, with the firm first filing for an IPO in October 2021, before a weak environment for listings prompted a postponement.
According to the filing, the offering, which will see BrightSpring list its shares on Nasdaq Global Select Market under the symbol BTSG, is being led by KKR, Goldman Sachs Group, Jefferies Group, Morgan Stanley, UBS Group, Bank of America, Guggenheim Securities and Leerink Partners.
