Aveanna stockholders launch 15M-share secondary offering
What's the deal? Aveanna HealthcareDealroom has a profile for this one. Try Dealroom → (NASDAQ: AVAH) said certain stockholders have started a secondary offering of 15,000,000 shares of its common stock. The sellers include affiliates of J.H. Whitney Equity Partners VIIDealroom has a profile for this one. Try Dealroom → and current and former directors and officers of the company.
Who gets the money? The selling stockholders will receive all net proceeds. Aveanna is not offering any shares and will not receive any of the proceeds.
J.H. Whitney affiliates will grant the underwriter a 30-day option to buy up to 2,250,000 additional shares. RBC Capital MarketsDealroom has a profile for this one. Try Dealroom → is sole book-running manager.
What does Aveanna do? The Atlanta-based company runs a diversified home care platform for medically complex, high-cost patients. It operates in 39 states, offering pediatric and adult services including nursing, hospice, rehabilitation, therapy, and enteral nutrition delivery.
Aveanna pitches its home-based model as a lower-cost alternative to prolonged hospitalisation.
The signal: A secondary offering lets early backers such as J.H. Whitney trim their stakes without diluting the company or raising new capital. The move points to a maturing position in Aveanna and rising liquidity for its longtime investors.
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