P3 Health Partners Inc Class A

P3 Health Partners entered into a securities purchase agreement with affiliates of Chicago Pacific Founders for the issuance of up to $70 million in tranches, consisting of cumulative 19.5% series D-1 preferred shares and warrants. The preferred shares are non-convertible, non-voting, senior with respect to dividends and liquidation, and may be repurchased by the company at $100 per share; the seven-year warrants entitle holders to buy common stock at an exercise price tied to the NASDAQ minimum price. CPF receives information rights, the right to appoint an independent board member, and extended lock-up and participation terms; a registration rights agreement governs resale upon exercise of the warrants. Despite liquidity strains (market capitalization about $60 million, current ratio 0.46), P3 reported better-than-expected Q2 results and raised its full-year outlook (adjusted loss per share $0.63 vs. expected $2.01, revenue $386.3 million). » More on de.investing.com

P3 Health Partners reported adjusted EPS of -$0.63 in the second quarter (expectation: -$2.01) and revenue of $386.3 million (expectation: $375.05 million). Adjusted EBITDA swung to $54 million versus a year-ago loss of $17 million, and management raised the full-year adjusted EBITDA guidance to $80–110 million. The stock jumped and reached $16.00 in after-hours trading; the company attributes the improvement to better cost control, favorable payer settlements, and operational efficiency. » More on de.investing.com