Full Press Release Details
P3 HEALTH PARTNERS INC. and SUBSIDIARIES
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
(in thousands, except per share amounts)
| AS REPORTED | PRO FORMA | |||||||||||||
| March 31, 2026 | Debt Conversion | Series D Issuance | March 31, 2026 | |||||||||||
| ASSETS | ||||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash | $ | 25,497 | $ | - | $ | 30,000 | $ | 55,497 | ||||||
| Restricted cash | 605 | - | - | 605 | ||||||||||
| Health plan receivable, net of allowance for credit losses of $281 | 124,894 | - | - | 124,894 | ||||||||||
| Clinic fees, insurance and other receivable | 9,060 | - | - | 9,060 | ||||||||||
| Prepaid expenses and other current assets | 12,154 | - | - | 12,154 | ||||||||||
| TOTAL CURRENT ASSETS | 172,210 | - | 30,000 | 202,210 | ||||||||||
| Property and equipment, net | 2,964 | - | - | 2,964 | ||||||||||
| Intangible assets, net | 472,989 | - | - | 472,989 | ||||||||||
| Other long-term assets | 25,994 | - | - | 25,994 | ||||||||||
| TOTAL ASSETS | $ | 674,157 | $ | - | $ | 30,000 | $ | 704,157 | ||||||
| LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' (DEFICIT) EQUITY | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Accounts payable | $ | 11,672 | $ | - | $ | - | $ | 11,672 | ||||||
| Accrued expenses and other current liabilities | 43,224 | - | - | 43,224 | ||||||||||
| Accrued payroll | 2,773 | - | - | 2,773 | ||||||||||
| Health plan settlements payable | 48,245 | - | - | 48,245 | ||||||||||
| Claims payable | 285,898 | - | - | 285,898 | ||||||||||
| Premium deficiency reserve | 81,402 | - | - | 81,402 | ||||||||||
| Current portion of long-term debt | 51,436 | - | - | 51,436 | ||||||||||
| Short-term debt | 835 | - | - | 835 | ||||||||||
| TOTAL CURRENT LIABILITIES | 525,485 | - | - | 525,485 | ||||||||||
| Operating lease liability, net | 10,830 | - | - | 10,830 | ||||||||||
| Warrant liabilities | 2,132 | - | - | 2,132 | ||||||||||
| Long-term debt, net | 259,569 | (195,662) | - | 63,907 | ||||||||||
| Other long-term liabilities | 9,308 | - | - | 9,308 | ||||||||||
| TOTAL LIABILITIES | 807,324 | (195,662) | - | 611,662 | ||||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||||||||
| MEZZANINE EQUITY | ||||||||||||||
| Redeemable non-controlling interest | 10,381 | - | - | 10,381 | ||||||||||
| STOCKHOLDERS' (DEFICIT) EQUITY | ||||||||||||||
| Class A common stock, $0.0001 par value 800,000 shares authorized 3,294 shares issued and outstanding as of March 31, 2026 | - | - | - | - | ||||||||||
| Class V common stock, $0.0001 par value 205,000 shares authorized 3,919 shares issued and outstanding as of March 31, 2026 | - | - | - | - | ||||||||||
| Series A Preferred Stock | - | 21,293 | - | 21,293 | ||||||||||
| Series B Preferred Stock | - | 18,802 | - | 18,802 | ||||||||||
| Series C Preferred Stock | - | 81,669 | - | 81,669 | ||||||||||
| Series D Preferred Stock | - | - | 30,000 | 30,000 | ||||||||||
| Additional paid in capital | 505,010 | 73,898 | - | 578,908 | ||||||||||
| Accumulated deficit | (649,918) | - | - | (649,918) | ||||||||||
| Non-controlling interest | 1,360 | - | - | 1,360 | ||||||||||
| TOTAL STOCKHOLDERS' (DEFICIT) EQUITY | (143,548) | 195,662 | 30,000 | 82,114 | ||||||||||
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' (DEFICIT) EQUITY | $ | 674,157 | $ | - | $ | 30,000 | $ | 704,157 |