BrightSpring shareholders plan 15 million share secondary offering

BrightSpring Health Services, Inc. (NASDAQ: BTSG) announced that certain stockholders plan to sell 15 million shares of common stock in a secondary offering, according to a company statement.

The selling stockholders include an affiliate of Kohlberg Kravis Roberts & Co. L.P. and certain members of management. BrightSpring will not sell any shares in the offering and will not receive proceeds from the sale.

The company has authorized a concurrent share repurchase of up to $50 million worth of shares from the offering, representing up to 10% of the shares sold. BrightSpring will purchase these shares from the underwriter at the same price paid to the selling stockholders. The underwriter will not receive fees for the repurchased shares.

BofA Securities serves as the sole book-running manager for the proposed offering. The underwriter plans to offer the shares through various channels including the Nasdaq Global Market, over-the-counter market, and negotiated transactions at prevailing market prices.

The share repurchase is contingent on the completion of the offering and is expected to close simultaneously. The offering does not depend on completion of the share repurchase.

BrightSpring filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission on June 10, 2025, which became automatically effective upon filing.

The Louisville, Kentucky-based company provides home and community-based health services for complex populations.

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