LifeStance Health Group, Inc. Announces Launch of Initial Public Offering

SCOTTSDALE, Ariz., June 1, 2021 /PRNewswire/ -- LifeStance Health Group, Inc. ("LifeStance Health" or the "Company"), one of the nation's largest providers of outpatient mental health care, today announced it has launched the roadshow for the initial public offering of 40,000,000 shares of its common stock, with 32,800,000 shares being offered by the Company and 7,200,000 shares being offered by selling stockholders pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission (the "SEC"). The underwriters will have a 30-day option to purchase up to an additional 6,000,000 shares of common stock from the selling stockholders. The price range for the initial public offering is currently estimated to be between $15.00 and $17.00 per share. The Company has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "LFST."

The Company intends to use the net proceeds that it receives from the proposed offering to repay amounts outstanding under its existing indebtedness and for general corporate purposes, including working capital, operating expenses and capital expenditures. The Company will not receive any proceeds from the sale of shares of common stock by the selling stockholders.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies are acting as lead book-runners for the offering. TPG Capital BD, LLC, UBS Investment Bank and William Blair are also acting as joint book-runners for the offering and Capital One Securities, AmeriVet Securities, Drexel Hamilton, R. Seelaus & Co., LLC and Siebert Williams Shank are acting as co-managers for the offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone: 1-866-471-2526, by facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: 866-803-9204; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone: 1-877-821-7388 or by email: Prospectus_Department@Jefferies.com.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release does 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.

About LifeStance Health Group, Inc.

Founded in 2017, LifeStance Health is one of the nation's largest providers of virtual and in-person outpatient mental health care for children, adolescents and adults experiencing a variety of mental health conditions. The company delivers personalized, data-driven and comprehensive care to help patients stay healthy and employs over 3,300 psychiatrists, advanced practice nurses, psychologists and therapists. LifeStance Health currently operates across 27 states and over 370 centers.

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SOURCE LifeStance Health