Company: PIII
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001140361-25-014596
Chunk: 72

Company: P3 Health Partners Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 72
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ification and contribution. P3 Transactions Relationship with Chicago Pacific Founders Chicago Pacific Founders, a private equity fund focused exclusively on healthcare services and senior living, owns approximately 49.99% of our Class A common stock and Class V common stock. Two members of our Board, Mary Tolan and Lawrence B. Leisure, serve as Managing Partners of Chicago Pacific Founders, and one member of our Board, Greg Kazarian, serves as an Operating Partner of Chicago Pacific Founders. The following are related party transactions that we have entered into with Chicago Pacific Founders or its affiliates, all of which were approved by a committee of our independent, disinterested directors: 43 Atrio Health Plans In 2019, Chicago Pacific Founders, a P3 Equityholder, made an equity investment in Atrio Holding Company, LLC (“Atrio Holdings”). Atrio Health Plans, Inc. (“Atrio”) is a wholly owned subsidiary of Atrio Holdings. Beginning in 2020, we entered into a Full-Risk capitation agreement with Atrio pursuant to which we are delegated to perform services on behalf of Atrio’s members assigned to P3, including provider network credentialing, patient authorizations and medical management (care management, quality management and utilization management). In 2024, we earned capitation revenue from Atrio assigned members of $303.6 million and management fees of $4.3 million, and paid claims of $345.6 million for Atrio assigned members. In 2023, we earned capitation revenue from Atrio assigned members of $192.6 million and management fees of $2.7 million, and paid claims of $197.6 million for Atrio assigned members. December 2022 Promissory Note and Warrant Issuance On December 13, 2022, P3 LLC entered into a financing transaction with VBC Growth SPV LLC (“VBC”), consisting of the issuance of an unsecured promissory note to VBC (the “VBC Promissory Note”), which provided for funding to us of up to $40.0 million, and the issuance of warrants to VBC to purchase 429,180 shares of our Class A common stock (which amount does not reflect the Reverse Stock Split). VBC is a Delaware limited liability company managed by Chicago Pacific Founders GP, L.P., an affiliate of Chicago Pacific Founders. The members of VBC include Greg Wasson and Mark Thier