PACS Group, Inc.

PACS Group, Inc. (PACS) priced its initial public offering on Apr 12, 2024 at $21.00 per share, within its $20.00–$22.00 range, raising $450M, and listed on NYSE. At the IPO price its market capitalization was about $3.15B. Citigroup was lead-left underwriter, joined by J.P. Morgan, Truist and RBC Capital Markets and others. Latham & Watkins advised the company and Goodwin Procter advised the underwriters.

PACS Group, Inc. is a post-acute healthcare company focused mainly on skilled nursing care delivered through independently operated facilities. It also provides senior care, assisted living and independent living options in some communities, using a decentralized local operating model.

Status

IPO

Ticker

PACS

Exchange

NYSE

Priced

Apr 12, 2024

IPO price

$21.00

Price range

$20.00–$22.00

Raised

$450M

Market cap at IPO price

$3.15B

First filed

Mar 13, 2024

Underwriters

Citigroup, J.P. Morgan, Truist, RBC Capital Markets, Goldman Sachs, KeyBanc and Oppenheimer

Company counsel

Latham & Watkins

Underwriters' counsel

Goodwin Procter

Sector

Healthcare

Country / state

UT

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.