Phreesia, Inc. Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

NEW YORK, July 22, 2019 /PRNewswire/ — Phreesia, Inc. (NYSE: PHR) (“Phreesia”), a leading patient intake management platform, today announced the closing of its initial public offering of 10,681,423 shares of common stock (the “Shares”), consisting of 7,812,500 Shares issued and sold by Phreesia and 2,868,923 shares sold by certain of Phreesia’s existing stockholders (the “Selling Stockholders”), which includes the full exercise of the underwriters’ option to purchase 1,393,229 additional Shares from the Selling Stockholders, at a public offering price of $18.00 per share. The total gross proceeds to Phreesia were approximately $140.6 million, and the total gross proceeds to the Selling Stockholders were approximately $51.6 million, before deducting underwriting discounts and commissions and expenses payable by Phreesia. The Shares commenced trading on the New York Stock Exchange under the ticker symbol “PHR” on Thursday, July 18, 2019.

J.P. Morgan, Wells Fargo Securities and William Blair acted as joint book-running managers for the offering as representatives of the underwriters. Allen & Company LLC and Piper Jaffray were passive book-running managers for the offering.

A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on July 17, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, telephone: 1-800-326-5897; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, 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 PHREESIA
Phreesia gives healthcare organizations a suite of robust applications to manage the patient intake process. Our innovative SaaS platform engages patients in their care and provides a modern, consistent experience, while enabling healthcare organizations to optimize their staffing, boost profitability and enhance clinical care.

Investor Contact:

Balaji Gandhi
Phreesia, Inc. 
investors@phreesia.com
(929) 506-4950

Media Contact:

Maureen McKinney
Phreesia, Inc.
mmckinney@phreesia.com
(773) 330-8908

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SOURCE Phreesia