Company: PIII
Filing Date: 2025-02-20
Form Type: PRE 14A
Source: 0001140361-25-005269
Chunk: 11

Company: P3 Health Partners Inc.
Filing Date: 2025-02-20
Form: PRE 14A
Chunk 11
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 does not deem it to be in the best interests of the Company and its stockholders. Because the Reverse Stock Split will decrease the number of outstanding shares of our common stock by a ratio in the range of 1-for-10 to 1-for-60 but would not effect a corresponding decrease to the number of shares of common stock that the Company will be authorized to issue, the proposed amendments to the Certificate of Incorporation to effect the Reverse Stock Split (the “Reverse Stock Split amendments”) would result in a relative increase in the number of authorized and unissued shares of our common stock. For more information on the relative increase in the number of authorized shares of our common stock, see “ Principal Effects of the Reverse Stock Split-Relative Increase in Number of Authorized Shares of Common Stock for Issuance” below. Purpose and Background of the Reverse Stock Split On February 10, 2025, the Board approved the proposed amendments to our Certificate of Incorporation to effect the Reverse Stock Split for the following reasons:

| • | the Board believes that implementing the Reverse Stock Split could be an effective means of regaining compliance with the minimum bid price requirement for continued listing of our Class A common stock and our public common stock warrants on The Nasdaq Capital Market, as discussed further below; |

| • | the Board believes that continued listing on The Nasdaq Capital Market provides overall credibility to an investment in our stock, given the stringent listing and disclosure requirements of The Nasdaq Capital Market. Notably, some trading firms discourage investors from investing in lower priced stocks that are traded in the over-the-counter market because they are not held to the same stringent standards; and |

| • | the Board believes that a higher stock price, which may be achieved through a Reverse Stock Split, could help facilitate the Company’s ability to raise new equity capital either through private fund-raising transactions or by accessing the equity capital markets, generally stimulate investor interest in the Company and help attract, retain, and motivate employees. |

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Nasdaq Requirements for Continued Listing

Our Class A common stock and common stock warrants trade on the Nasdaq Capital Market under the symbols “PIII” and “PIIIW,” respectively. One of the requirements for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) is maintenance of a minimum closing bid price of $1.00 per share of our common stock. On January 31, 2025 the closing market price per share of our common stock