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LifeStance Health drops as sponsors to offload in secondary offering

By Reuters News

** Outpatient mental healthcare provider LifeStance Health's LFST.O shares down 5.6% to $13 premarket on Mon after secondary offering launch

** Scottsdale, Arizona-based LFST announces certain stockholders to offload 45 mln shares

** Private equity firms TPG Capital TPG.O and Summit Partners looking to sell ~37.2 mln shares and ~7.8 mln shares, respectively, per the prospectus

** In addition, LFST to concurrently repurchase 2 mln of offering shares from bookrunners Barclays and JP Morgan

** TPG and Summit sold LFST shares in a Sept secondary offering priced at $12.35

** LFST had ~380.2 mln shares outstanding as of Oct 28

** At close on Fri, stock up 96% YTD

** 9 of 11 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT of $16.50 up from $13 three months ago, per LSEG

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