Pennant Group announces offering of 3.5M shares of common stock

The Pennant Group announced that it has commenced an underwritten public offering of 3.5M shares of common stock of the company. The company expects to use the net proceeds from the offering to repay outstanding indebtedness under the company’s revolving credit facility and any remaining for general corporate purposes. Citigroup and Truist Securities are acting as the lead book-running managers for the offering. Wells Fargo Securities and RBC Capital Markets are acting as joint book-running managers. Oppenheimer & Co. and Stephens are acting as co-managers.