LifeStance Health Group, Inc. (Nasdaq: LFST) announced that certain stockholders plan to sell 22,250,000 shares of the company's common stock in a secondary public offering, according to a press release.

The selling stockholders will receive all proceeds from the offering. LifeStance will not sell any shares and will not receive any proceeds from the transaction.

Concurrently, the company has authorized the repurchase of 2,000,000 shares of common stock from the underwriter at the same price per share paid to the selling stockholders. The repurchase is subject to the completion of the offering and other customary conditions, though the offering itself is not conditioned on the repurchase's completion. The underwriter will not receive fees for the shares being repurchased.

Barclays is acting as the sole underwriter for the offering. The shares are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission on May 21, 2024.