ARLINGTON, Va.--(BUSINESS WIRE)--Privia Health Group, Inc, a technology-driven, national physician enablement company that collaborates with medical groups, health plans and health systems, announced the launch of its initial public offering of 19,500,000 shares of common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. The offering consists of 2.8 million shares of common stock offered by Privia Health and 16.7 million shares of common stock to be sold by Privia Health’s majority stockholder.

The initial public offering price is currently expected to be between $17.00 and $19.00 per share. Privia Health expects to grant the underwriters a 30-day option to purchase up to an additional 2,925,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

Privia Health has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “PRVA”.

Privia Health intends to use the net proceeds from the offering primarily for general corporate purposes, including working capital, research and development, business development, sales and marketing activities and capital expenditures. Privia Health may also use a portion of the net proceeds, to acquire or invest in complementary businesses, technologies or other assets, although we currently have no agreements or understandings with respect to any such acquisitions or investments.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Privia Health

Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Our platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers.