PACS Group, Inc. Files Amendment to S-1 Registration Statement

TL;DR

<b>PACS Group, Inc. has filed an amendment to its S-1 registration statement, indicating progress in its public offering process.</b>

AI Summary

PACS Group, Inc. (PACS) filed a Amended IPO Registration (S-1/A) with the SEC on March 26, 2024. PACS Group, Inc. filed an amendment (S-1/A) to its registration statement on March 26, 2024. The company is incorporated in Delaware with its principal executive offices located in Farmington, Utah. The filing is related to a registration statement under the Securities Act of 1933, with registration number 333-277893. PACS Group, Inc. operates within the Skilled Nursing Care Facilities industry (SIC code 8051). The filing indicates the company is a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking PACS Group, Inc., this filing contains several important signals. This amendment signifies a step forward in PACS Group's journey towards becoming a publicly traded company, potentially impacting its access to capital and market valuation. The filing provides updated information for potential investors, detailing the company's structure, regulatory filings, and operational context within the skilled nursing care sector.

Risk Assessment

Risk Level: low — PACS Group, Inc. shows low risk based on this filing. The risk is low as this is a routine amendment to a registration statement, not indicating any immediate negative developments.

Analyst Insight

Monitor future filings for details on the proposed offering, including share price and number of shares, to assess investment potential.

Key Numbers

• 333-277893 — SEC Registration Number (Registration No. 333-277893)
• 8051 — SIC Code (Primary Standard Industrial Classification Code Number)
• 92-3144268 — IRS Employer Identification No. (I.R.S. Employer Identification No.)
• 2024-03-26 — Filing Date (Filed as of date: 20240326)

Key Players & Entities

• PACS Group, Inc. (company) — Filer name
• 2024-03-26 (date) — Filing date
• 333-277893 (registration_number) — SEC registration number
• Delaware (jurisdiction) — State of incorporation
• Farmington, Utah (location) — Principal executive offices
• 8051 (sic_code) — Standard Industrial Classification Code
• Jason Murray (person) — Chief Executive Officer
• Latham & Watkins LLP (company) — Legal counsel

FAQ

Industry Context

PACS Group, Inc. operates in the Skilled Nursing Care Facilities sector, a critical part of the healthcare industry focused on providing long-term residential care for individuals requiring medical assistance.

Regulatory Implications

The filing is made under the Securities Act of 1933, which governs the registration of securities offerings in the United States.

What Investors Should Do

1. Review the full S-1/A filing for detailed financial information and risk factors.
2. Track subsequent amendments and the final prospectus for offering details.
3. Research the skilled nursing care industry for competitive landscape and regulatory trends.

Year-Over-Year Comparison

This is an amendment to a previously filed registration statement, indicating ongoing preparations for an initial public offering.

Key Financial Figures

• $193.6 billion — industry expenditures to increase from $193.6 billion in 2022 to $283.3 billion in 2031, repr
• $283.3 billion — increase from $193.6 billion in 2022 to $283.3 billion in 2031, representing a compound annual
• $3.1 b — 31, 2023, we generated total revenue of $3.1 billion, representing a CAGR of 63.3% ove
• $2.4 b — ember 31, 2022, we generated revenue of $2.4 billion, and Medicare and Medicaid accoun
• $112.9 m — 2023, we generated total net income of $112.9 million, total operating expense of $2.9
• $2.9 billion — 2.9 million, total operating expense of $2.9 billion and Adjusted EBITDA of $237.5 million,
• $237.5 m — of $2.9 billion and Adjusted EBITDA of $237.5 million, representing a CAGR of 53.4%, 63
• $2.2 b — 2022, our total operating expenses were $2.2 billion, and we generated net income of $
• $150.5 million — billion, and we generated net income of $150.5 million and Adjusted EBITDA of $255.5 million.
• $255.5 million — f $150.5 million and Adjusted EBITDA of $255.5 million. As of December 31, 2023, we had total
• $3.0 billion — , we had total long-term liabilities of $3.0 billion. Adjusted EBITDA is a non-GAAP financia

Filing Documents

• pacs-sx1a.htm (S-1/A) — 2500KB
• exhibit211-sx1a.htm (EX-21.1) — 286KB
• exhibit232-sx1a.htm (EX-23.2) — 3KB
• business1a.jpg (GRAPHIC) — 106KB
• business3a.jpg (GRAPHIC) — 60KB
• business4a.jpg (GRAPHIC) — 972KB
• business5a.jpg (GRAPHIC) — 540KB
• capture1.jpg (GRAPHIC) — 85KB
• companylogo1a.jpg (GRAPHIC) — 14KB
• companylogo1a1.jpg (GRAPHIC) — 7KB
• prospectussummary1b.jpg (GRAPHIC) — 182KB
• 0001628280-24-012946.txt (&nbsp;) — 5385KB

RISK FACTORS

RISK FACTORS 20 SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS 64

USE OF PROCEEDS

USE OF PROCEEDS 66 DIVIDEND POLICY 67 CAPITALIZATION 68

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 72

BUSINESS

BUSINESS 94 MANAGEMENT 118 COMPENSATION DISCUSSION AND ANALYSIS 126 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 142 PRINCIPAL AND SELLING STOCKHOLDERS 145

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 146 SHARES ELIGIBLE FOR FUTURE SALE 152 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS 155 UNDERWRITING (CONFLICTS OF INTEREST) 159 LEGAL MATTERS 169 EXPERTS 169 WHERE YOU CAN FIND MORE INFORMATION 169 INDEX TO COMBINEDCONSOLIDATED FINANCIAL STATEMENTS F- 1 You should rely only on the information contained in this prospectus or contained in any free writing prospectus filed with the Securities and Exchange Commission (SEC) prepared by or on behalf of us that we have referred to you. Neither we nor the underwriters have authorized anyone to provide you with any information other than that contained in this prospectus, any amendment or supplement to this prospectus or in any free writing prospectus we may authorize to be delivered or made available to you. Neither we, the selling stockholders, nor the underwriters take responsibility for, and can provide assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the shares of our common stock offered by this prospectus, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of shares of our common stock. Our business, financial condition, results of operations, and prospects may have changed since such date. For investors outside of the United States We have not, the selling stockholders have not, and the underwriters have not, done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, this offering and the distribu

View Full Filing

View this S-1/A filing on SEC EDGAR