June 1 (Reuters) - LifeStance Health Group Inc, a therapy
provider backed by an affiliate of buyout firm TPG, said on
Tuesday it was looking to raise as much as $680 million through
a U.S. initial public offering, valuing the company at nearly
The company plans to sell 32.8 million shares of its common
stock at $15 to $17 per share, according to a regulatory filing,
while existing investors are offering 7.2 million shares at the
LifeStance's listing plans come as health experts
increasingly flag concerns around evidence of higher risks of
brain and mental health disorders among COVID-19 survivors.
Founded in 2017, LifeStance provides behavioral healthcare
services to children, adolescents and adults for a variety of
mental health issues.
It employs more than 3,300 licensed mental health clinicians
who provide care through an online delivery platform or at
The Scottsdale, Arizona-based company incurred a net loss of
$8.7 million on a revenue of $143.1 million for the three months
ended March 31, its filing showed.
LifeStance will be listed on the Nasdaq and will trade under
the ticker symbol "LFST" after its stock market debut.
Morgan Stanley, Goldman Sachs, J.P. Morgan and Jefferies are
among the underwriters for the offering.
(Reporting by Sohini Podder in Bengaluru; Editing by Shounak
Dasgupta and Devika Syamnath)