Phreesia Inc. (PHR) Prices 4.5M Shares at $50

Phreesia, Inc. (NYSE: PHR) announced today the pricing of its previously announced underwritten public offering of 4,500,000 shares of its common stock at a price to the public of $50.00 per share, all of which will be sold by the Company. In addition, the Company has granted the underwriters an option for 30 days to purchase up to 675,000 additional shares of common stock at the public offering price, less underwriting discounts.

The Offering is expected to close on April 12, 2021, subject to the satisfaction of customary closing conditions. Phreesia expects to receive net proceeds from the offering of approximately $213.2 million (or approximately $245.3 million if the underwriters exercise their option to purchase additional shares in full) after deducting underwriting discounts and estimated offering expenses.

J.P. Morgan and William Blair are acting as joint book-running managers for the Offering and as representatives of the underwriters. Allen & Company LLC and Piper Sandler are acting as passive book-running managers, and Baird, Raymond James, Canaccord Genuity, Cantor, JMP Securities, KeyBanc Capital Markets, Needham & Company, Siebert Williams Shank, D.A. Davidson & Co. and Stephens Inc. are acting as co-managers for the Offering.

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