Company: PIII
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001140361-25-016302
Chunk: 73

Company: P3 Health Partners Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 73
---
 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 Thierer, each of whom serves on our Board, Sherif Abdou, M.D., our former Chief Executive Officer and director, and Amir Bacchus, M.D., our Chief Medical Officer and director. Mary Tolan, Lawrence B. Leisure and Greg Kazarian, each of whom serves on our Board, hold interests in Chicago Pacific Founders, GP, L.P. March 2023 Private Placement (Numbers of securities and prices per share or unit in this section do not reflect the Reverse Stock Split) On March 30, 2023, we entered into a Securities Purchase Agreement with the purchasers named therein pursuant to which, on April 6, 2023, we issued 79,912,635 units (the “Units”) at a price of $1.1180 per unit for institutional investors, and a purchase price of $1.1938 per unit for employees and consultants. Each Unit consists of one share of Class A common stock, and 0.75 of a warrant to