Company: PIII
Filing Date: 2025-06-03
Form Type: 8-K
Source: 0001628280-25-029146
Chunk: 2

Company: P3 Health Partners Inc.
Filing Date: 2025-06-03
Form: 8-K
Item: Item 1.01
Chunk 2
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, par value $0.0001 per share (“ Class A Common Stock”) at an exercise price of $7.39 per share. Each Warrant will be exercisable only following any required Company stockholder approval of the issuance of the shares of Class A Common Stock underlying the Warrants pursuant to the Nasdaq Listing Rules (as described below). The number of shares of Class A Common Stock for which the Warrant is exercisable and the exercise price may be adjusted upon any event involving subdivisions, certain Fundamental Transactions (as defined in the Warrant Agreement), combinations, distributions, recapitalizations and like transactions. Pursuant to the Warrant Agreement, the Warrants and the right to purchase shares of Class A Common Stock upon the exercise of the Warrants will terminate on May 29, 2032.

Under the Warrant Agreement, shares of Class A Common Stock may not be issued pursuant to the Warrant and the Warrant is not exercisable for shares of Class A Common Stock unless and until the Company has obtained any required stockholder approval pursuant to the Nasdaq Listing Rules. The Company has agreed to use its reasonable best efforts to obtain such stockholder approval at its next annual meeting of stockholders. If the Company does not obtain such

stockholder approval, the Company has agreed to call up to three special meetings of Company stockholders every six months thereafter to seek such stockholder approval.

VBC 5 Subordination Agreement

In connection with the transactions described above, P3 LLC entered into a subordination agreement, dated as of May 29, 2025 (the “ VBC 5 Subordination Agreement”), with CRG Servicing LLC, as administrative agent under P3 LLC’s existing term loan facility (the “ Term Loan Facility”) and VBC 5. Pursuant to the VBC 5 Subordination Agreement, VBC 5 agreed to subordinate its right of payment under the Promissory Note to the right of payment and security interests of the lenders under the Term Loan Facility. The terms of the VBC 5 Subordination Agreement will effectively require P3 LLC to pay all interest under the Promissory Note in-kind.

Amendment to Term Loan Agreement

In connection with the transactions described above, on May 29, 2025, P3 LLC entered into the Ninth Amendment (the “ Ninth Amendment”) to that certain Term Loan Agreement, dated as of November 19, 2020, by and among P3 LLC, as borrower, the subsidiary guarantors party thereto,