# EDGAR Filing Document

**Accession Number:** 0001832511
**File Stem:** 0001832511-26-000015
**Filing Date:** 2026-4
**Character Count:** 20643
**Document Hash:** 8ed68b09a7815d4f571dcf06cba6d3f0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001832511-26-000015.hdr.sgml**: 20260403

**ACCESSION NUMBER**: 0001832511-26-000015

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**REFERENCES 429**: 333-267966

**FILED AS OF DATE**: 20260403

**DATE AS OF CHANGE**: 20260403

**EFFECTIVENESS DATE**: 20260403

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** P3 Health Partners Inc.
- **CENTRAL INDEX KEY:** 0001832511
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-HEALTH SERVICES [8000]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 852992794
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294886
- **FILM NUMBER:** 26838733

**BUSINESS ADDRESS:**
- **STREET 1:** 2045 W GRAND AVE STE B
- **STREET 2:** PMB # 82152
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60612-1577
- **BUSINESS PHONE:** 312-822-8897

**MAIL ADDRESS:**
- **STREET 1:** 2045 W GRAND AVE STE B
- **STREET 2:** PMB # 82152
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60612-1577

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Foresight Acquisition Corp.
- **DATE OF NAME CHANGE:** 20201116

**As filed with the Securities and Exchange Commission on April 3, 2026**

**Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**P3 HEALTH PARTNERS INC.** 

(Exact name of Registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **85-2992794** |
| (State or other jurisdiction of<br>Incorporation or organization) | (I.R.S. Employer<br>Identification No.) |

---

**2370 Corporate Circle, Suite 300**

**Henderson, NV 89074**

**(702) 910-3950**

(Address of principal executive offices) (Zip code)

**P3 Health Partners Inc. 2021 Incentive Award Plan** 

(Full title of the plan)

**Leif Pedersen**

**Chief Financial Officer**

**2370 Corporate Circle, Suite 300**

**Henderson, NV 89074**

**(702) 910-3950**

(Name and address of agent for service) (Telephone number, including area code, of agent for service)

***With a copy to:***

**Amy Bowler**

**Holland & Hart LLP**

**555 17th Street, Suite 3200**

**Denver, CO 80202**

**Phone: (303) 290-1086** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer  | ☐ | Accelerated filer  | ☐ |
| Non-accelerated filer  | ☒ | Smaller reporting company  | ☒ |
| | | Emerging growth company  | ☐ |

---

&nbsp;&nbsp;&nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for comply with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. ☐

------

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed for the purpose of registering an additional 72,059 shares of Class A common stock, par value $0.0001 per share, of P3 Health Partners Inc. (the "Registrant") that became available for issuable pursuant to the Company's 2021 Incentive Award Plan (the "2021 Plan") for which a Registration Statement of the Company on Form S-8 (File No. <u>[333-267966](https://www.sec.gov/Archives/edgar/data/1832511/000110465922110428/tm2228354d2_s8.htm)</u>) is effective.

Pursuant to General Instruction E of Form S-8, the contents of the above referenced prior Registration Statement on Form S-8, including any amendments thereto, filed with the Securities and Exchange Commission, relating to the 2021 Plan are incorporated herein by reference.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | <br>**Description** |
| <u>[4.1](https://www.sec.gov/Archives/edgar/data/1832511/000110465921148233/tm2134759d1_ex3-1.htm)</u> | <u>[Amended and Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the registrant's Current Report on Form 8-K filed on December 9, 2021).](https://www.sec.gov/Archives/edgar/data/1832511/000110465921148233/tm2134759d1_ex3-1.htm)</u> |
| <u>[4.2](https://www.sec.gov/Archives/edgar/data/1832511/000162828025018083/exhibit31_p3healthpartners.htm)</u> | <u>[Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the registrant's Current Report on Form 8-K filed April 17, 2025).](https://www.sec.gov/Archives/edgar/data/1832511/000162828025018083/exhibit31_p3healthpartners.htm)</u> |
| <u>[4.3](https://www.sec.gov/Archives/edgar/data/1832511/000162828024010546/piii-20240312xexx31.htm)</u> | <u>[Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the registrant's Current Report on Form 8-K filed March 12, 2024).](https://www.sec.gov/Archives/edgar/data/1832511/000162828024010546/piii-20240312xexx31.htm)</u> |
| <u>[5.1\*](piii-20260403xs8xexx51.htm)</u> | <u>[Opinion of Holland & Hart LLP.](piii-20260403xs8xexx51.htm)</u> |
| <u>[23.1\*](piii-20260403xs8xexx231.htm)</u> | <u>[Consent of BDO USA, P.C., Independent Registered Public Accounting Firm](piii-20260403xs8xexx231.htm)</u> |
| <u>[23.2\*](piii-20260403xs8xexx51.htm)</u> | <u>[Consent of Holland & Hart LLP (included in legal opinion filed as Exhibit 5.1).](piii-20260403xs8xexx51.htm)</u> |
| <u>[24.1\*](#id3962060e4f340568f82c4e4f62a9a0f_34)</u> | <u>[Power of Attorney (included on signature pages).](#id3962060e4f340568f82c4e4f62a9a0f_34)</u> |
| <u>[99.1](https://www.sec.gov/Archives/edgar/data/1832511/000110465921148233/tm2134759d1_ex10-12.htm)</u> | <u>[P3 Health Partners Inc. 2021 Incentive Award Plan (incorporated by reference to Exhibit 10.12 to the registrant's Current Report on Form 8-K filed on December 9, 2021).](https://www.sec.gov/Archives/edgar/data/1832511/000110465921148233/tm2134759d1_ex10-12.htm)</u> |
| <u>[107.1\*](exfilingfees4226.htm)</u> | <u>[Filing Fee Table](exfilingfees4226.htm)</u> |

---

\* Filed herewith.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Henderson, State of Nevada, on April 3, 2026.

---

| | |
|:---|:---|
| | **P3 HEALTH PARTNERS INC.** |
| By: | /s/ Leif Pedersen |
|  | Name: Leif Pedersen |
|  | Title: Chief Financial Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below hereby constitutes and appoints Aric Coffman, M.D. and Leif Pedersen, or each of them singly, with full power to act without the other, such person's true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign this registration statement and any and all amendments, including post-effective amendments to this registration statement, and to file the same, with exhibits and schedules thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary or desirable to be done in connection therewith as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitute or substitutes may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Aric Coffman, M.D. | Chief Executive Officer and Director | April 3, 2026 |
| Aric Coffman, M.D. | *(Principal Executive Officer)* |  |
| /s/ Leif Pedersen | Chief Financial Officer | April 3, 2026 |
| Leif Pedersen | *(Principal Financial Officer and Principal Accounting Officer)* |  |
| /s/ Mark Thierer | Chairman of the Board of Directors | April 3, 2026 |
| Mark Thierer |  |  |
| /s/ Amir S. Bacchus, M.D. | Chief Medical Officer and Director | April 3, 2026 |
| Amir S. Bacchus, M.D. |  |  |
| /s/ Gregory N. Kazarian | Director | April 3, 2026 |
| Gregory N. Kazarian |  |  |
| /s/ Lawrence B. Leisure | Director | April 3, 2026 |
| Lawrence B. Leisure |  |  |
| /s/ Jeffrey G. Park | Director | April 3, 2026 |
| Jeffrey G. Park |  |  |
| /s/ Thomas E. Price, M.D. | Director | April 3, 2026 |
| Thomas E. Price, M.D. |  |  |
| /s/ Mary A. Tolan | Director | April 3, 2026 |
| Mary A. Tolan |  |  |
| /s/ Greg Wasson | Director | April 3, 2026 |
| Greg Wasson |  |  |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **P3 Health Partners Inc.**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Class A common stock, $0.0001 par value per share | Other | 72059 | $2.6525 | $191136.50 | 0.0001381 | $26.40 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $191136.50  |  | $26.40  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $26.40  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (1) In accordance with Rule 416 under the Securities Act of 1933, as amended, this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued to prevent dilution resulting from stock splits, stock dividends, or similar transactions. (2) Consists of 72,059 shares of Class A common stock, par value $0.0001 per share, of P3 Health Partners, Inc. (the "Registrant"), which became issuable on January 1, 2026 under the P3 Health Partners, Inc. 2021 Incentive Award Plan by operation of the automatic annual increase provision therein. (3) Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act of 1933, as amended, and based upon the average high and low prices of the Registrant's Class A common stock as reported on the Nasdaq Capital Market on April 2, 2026. (4) The Registrant does not have any fee offsets.

---

| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 5.1

![hhlogo.jpg](hhlogo.jpg)

**Exhibit 5.1**

April 3, 2026

P3 Health Partners Inc.

2370 Corporate Circle, Suite 300

Henderson, NV 89074

Re: Registration Statement on Form S-8

Ladies and Gentlemen:

We have acted as counsel to P3 Health Partners Inc., a Delaware corporation (the "***Company***"), in connection with its Registration Statement on Form S-8 filed with the Securities and Exchange Commission (the "***Commission***") on the date hereof (the "***Registration Statement***"), pursuant to the Securities Act of 1933, as amended (the "***Securities Act***"). Pursuant to the Registration Statement, the Company is registering for issuance 72,059 shares of the Company's Class A common stock, par value $0.0001 per share (the "***Shares***") for issuance under the Company's 2021 Incentive Award Plan (the "***Plan***").

This opinion letter is furnished to you at your request to enable you to fulfill the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act in connection with the Registration Statement, and no opinion is expressed or may be implied herein as to any matter pertaining to the contents of the Registration Statement other than as to the valid issuance of the Shares.

As the basis for the opinion hereinafter expressed, we have reviewed originals or copies of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;an executed copy of the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. &nbsp;&nbsp;&nbsp;&nbsp;the Amended and Restated Certificate of Incorporation of the Company, dated December 3, 2021, as amended by the Certificate of Amendment, dated April 11, 2025, each as currently in effect ("***Charter***");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;a copy of the Amended and Restated Bylaws of the Company, dated March 8, 2024, and as currently in effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. &nbsp;&nbsp;&nbsp;&nbsp;the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. &nbsp;&nbsp;&nbsp;&nbsp;a certificate of good standing covering the Company, issued by the Secretary of State of the State of Delaware as of a recent date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. &nbsp;&nbsp;&nbsp;&nbsp;such resolutions, records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below.

We have relied upon the foregoing and upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. In making our examination, we have assumed: (i) that all signatures on documents examined by us are genuine; (ii) the authenticity of all documents submitted to us as originals; (iii) the conformity with the original documents of all documents submitted to us as certified, conformed or electronic or photostatic copies; (iv) that each individual signing in a representative capacity (other than on behalf of the Company)

------

![hhlogo.jpg](hhlogo.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 3, 2026

any document reviewed by us had authority to sign in such capacity; (v) that each individual signing any document on such individual's behalf or on behalf of any entity had the legal capacity to do so; (vi) the truth, accuracy, and completeness of the information, representations, and warranties contained in the records, documents, instruments, and certificates we have reviewed; (vii) that the Registration Statement, Charter, or other organizational documents of the Company, each as amended to the date hereof, will not have been amended from the date hereof in a manner that would affect the validity of the opinion rendered herein; and (viii) the accuracy, completeness and authenticity of certificates of public officials.

We are opining herein as to the Delaware General Corporation Law, as amended, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction, or as to any matters of municipal law or the laws of any local agencies within any state.

Based on the foregoing and on such legal considerations as we deem relevant, and subject to the limitations, qualifications, exceptions, and assumptions set forth herein and in reliance on the statements of fact contained in the documents we have examined, we are of the opinion that the Shares have been duly authorized for issuance pursuant to the Plan, and when issued in accordance with the terms of the Plan, will be validly issued, fully paid and nonassessable.

We expressly disavow any obligation to advise you with respect to future changes in law or in our knowledge or as to any event or change of condition occurring subsequent to the date of this letter. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act.

We consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving these consents, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.

Very truly yours,

/s/ Holland & Hart LLP

## Exhibit 23.1

**Exhibit 23.1**

<u>Consent of Independent Registered Public Accounting Firm</u>

We hereby consent to the incorporation by reference in this Registration Statement of our report dated March 26, 2026, relating to the consolidated financial statements of P3 Health Partners Inc. (the Company) appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

/s/ BDO USA, P.C.

Las Vegas, Nevada

April 3, 2026

<br>