# EDGAR Filing Document

**Accession Number:** 0001832511
**File Stem:** 0001213900-25-052103
**Filing Date:** 2025-6
**Character Count:** 36862
**Document Hash:** e40d180f7c45620d3e10e128aedaf8cc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-052103.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001213900-25-052103

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**SUBJECT COMPANY**: 

**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:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92568
- **FILM NUMBER:** 251030628

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Chicago Pacific Founders UGP, LLC
- **CENTRAL INDEX KEY:** 0001897558

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 980 N. MICHIGAN AVENUE, SUITE 1998
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611
- **BUSINESS PHONE:** 312-273-4750

**MAIL ADDRESS:**
- **STREET 1:** 980 N. MICHIGAN AVENUE, SUITE 1998
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**P3 Health Partners Inc.**

*(Name of Issuer)*

**Class A Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**744413105**

*(CUSIP Number)*

**Michael J. Wilson**<br>Chicago Pacific Founders UGP, LLC,<br>980 North Michigan Avenue Suite 1998<br>Chicago IL 60611<br>312-273-4750

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/04/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders UGP, LLC** | Name of reporting person<br>**Chicago Pacific Founders UGP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2208306.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2029342.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2208306.00** | Aggregate amount beneficially owned by each reporting person<br>**2208306.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**28.33%** | Percent of class represented by amount in Row (11)<br>**28.33%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders GP, L.P.** | Name of reporting person<br>**Chicago Pacific Founders GP, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2208306.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2029342.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2208306.00** | Aggregate amount beneficially owned by each reporting person<br>**2208306.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**28.33%** | Percent of class represented by amount in Row (11)<br>**28.33%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders Fund, L.P.** | Name of reporting person<br>**Chicago Pacific Founders Fund, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1961646.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1800907.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1961646.00** | Aggregate amount beneficially owned by each reporting person<br>**1961646.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**25.29%** | Percent of class represented by amount in Row (11)<br>**25.29%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders Fund-A, L.P.** | Name of reporting person<br>**Chicago Pacific Founders Fund-A, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**62490.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**57887.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**62490.00** | Aggregate amount beneficially owned by each reporting person<br>**62490.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.81%** | Percent of class represented by amount in Row (11)<br>**0.81%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders Fund-B, L.P.** | Name of reporting person<br>**Chicago Pacific Founders Fund-B, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**133880.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**124018.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**133880.00** | Aggregate amount beneficially owned by each reporting person<br>**133880.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.72%** | Percent of class represented by amount in Row (11)<br>**1.72%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VBC Growth SPV, LLC** | Name of reporting person<br>**VBC Growth SPV, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**8583.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**8583.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8583.00** | Aggregate amount beneficially owned by each reporting person<br>**8583.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.12%** | Percent of class represented by amount in Row (11)<br>**0.12%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders UGP III, LLC** | Name of reporting person<br>**Chicago Pacific Founders UGP III, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**6210082.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**6210082.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6210082.00** | Aggregate amount beneficially owned by each reporting person<br>**6210082.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**49.99%** | Percent of class represented by amount in Row (11)<br>**49.99%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** (1) The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.
(2) Includes 1,428,129 shares of Common Stock issuable upon exercise of warrants that were issued by the Issuer to VBC 4 on February 13, 2025. The shares of Common Stock underlying the warrants were subject to shareholder approval which was obtained on June 4, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Chicago Pacific Founders GP III, L.P.** | Name of reporting person<br>**Chicago Pacific Founders GP III, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**6210082.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**6210082.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6210082.00** | Aggregate amount beneficially owned by each reporting person<br>**6210082.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**49.99%** | Percent of class represented by amount in Row (11)<br>**49.99%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** (1) The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.
(2) Includes 1,428,129 shares of Common Stock issuable upon exercise of warrants that were issued by the Issuer to VBC 4 on February 13, 2025. The shares of Common Stock underlying the warrants were subject to shareholder approval which was obtained on June 4, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**CPF III PT SPV, LLC** | Name of reporting person<br>**CPF III PT SPV, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2568000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2568000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2568000.00** | Aggregate amount beneficially owned by each reporting person<br>**2568000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**28.89%** | Percent of class represented by amount in Row (11)<br>**28.89%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**CPF III-A PT SPV, LLC** | Name of reporting person<br>**CPF III-A PT SPV, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**773022.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**773022.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**773022.00** | Aggregate amount beneficially owned by each reporting person<br>**773022.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**10.04%** | Percent of class represented by amount in Row (11)<br>**10.04%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VBC Growth SPV 3, LLC** | Name of reporting person<br>**VBC Growth SPV 3, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1428129.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1428129.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1428129.00** | Aggregate amount beneficially owned by each reporting person<br>**1428129.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.58%** | Percent of class represented by amount in Row (11)<br>**16.58%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.

| **CUSIP No.** | **744413105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VBC Growth SPV 4, LLC** | Name of reporting person<br>**VBC Growth SPV 4, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1428129.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1428129.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1428129.00** | Aggregate amount beneficially owned by each reporting person<br>**1428129.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.58%** | Percent of class represented by amount in Row (11)<br>**16.58%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** (1) The reported shares reflect a 1-for-50 reverse stock split effected by the Issuer on April 11, 2025.
(2) Includes 1,428,129 shares of Common Stock issuable upon exercise of warrants that were issued by the Issuer to VBC 4 on February 13, 2025. The shares of Common Stock underlying the warrants were subject to shareholder approval which was obtained on June 4, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
P3 Health Partners Inc.

**(c) Address of Issuer's Principal Executive Offices:**
2370 Corporate Circle, Suite 300, Henderson, NV, 89074

The information contained by this item is set forth in Schedule 13D filed with the Securities and Exchange Commission on December 13, 2021, as amended, and is incorporated herein by reference.

Explanatory Note:

On February 13, 2025, P3 Health Group, LLC entered into a financing transaction with VBC 4, consisting of an unsecured promissory note issued to VBC 4 and warrants issued to VBC 4 to purchase up to 1,428,129 shares of Class A Common Stock.

This Amendment No. 5 to Schedule 13D ("Amendment No. 5") amends the Schedule 13D of (i) Chicago Pacific Founders UGP, LLC, a Delaware limited liability company, (ii) Chicago Pacific Founders GP, L.P., a Delaware limited partnership, (iii) Chicago Pacific Founders Fund, L.P., a Delaware limited partnership, (iv) Fund-A, (v) Chicago Pacific Founders Fund-B, L.P., a Delaware limited partnership, (vi) VBC, (vii) Chicago Pacific Founders UGP III, LLC, a Delaware limited liability company ("Founders UGP III"), (viii) Chicago Pacific Founders GP III L.P., a Delaware limited partnership ("Founders GP III"), (ix) CPF III PT SPV, LLC, a Delaware limited liability company, (x) CPF III-A PT SPV, LLC, a Delaware limited liability company, and (xi) VBC 3 (collectively with the foregoing entities, the "Reporting Persons") that was filed with the Securities and Exchange Commission on January 31, 2025 (including this amendment, the "Schedule 13D"), with respect to the Class A Common Stock of P3 Health Partners Inc., a Delaware corporation (the "Company" or the "Issuer"). This amendment to the Schedule 13D constitutes Amendment No. 5 to the Schedule 13D. Capitalized terms used but not defined herein have the meanings given to such terms in the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is hereby amended by adding the following:

On February 13, 2025, P3 Health Group, LLC, a subsidiary of the Company, entered into the previously disclosed financing transaction with VBC 4, consisting of an unsecured promissory note and warrants ("VBC 4 Warrants") to purchase shares of Class A Common Stock.

The manager of VBC 4 is Founders GP III, an affiliate of the principal stockholder of the Company.

Founders UGP III controls the voting and dispositive decisions with respect to the VBC 4 Warrants and the underlying shares of Class A Common Stock.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of the Schedule 13D is hereby amended by adding the following:

The ownership percentages set forth below are calculated pursuant to Rule 13d-3 of the Act and are based on an aggregate of 3,268,093 shares of Class A Common Stock and 3,919,924 shares of Class V Common Stock outstanding as of May 1, 2025, based on the number of securities outstanding as contained in the most recently available filing with the SEC by the Issuer. The shares of Class V Common Stock are redeemable at the Reporting Person's option for the Issuer's Class A Common Stock on a 1-for-1 basis subject to certain restrictions. The shares of Class V Common Stock and Class A Common Stock vote as a single class.

VBC 4 holds warrants to purchase 1,428,129 shares of Class A Common Stock, and the manager of VBC 4 is Founders GP III, a wholly owned subsidiary of Founders UGP III. Founders UGP III controls the voting and dispositive decisions with respect to the Warrants and the underlying shares of Class A Common Stock.

**(b)**
The information contained by this item is set forth in Schedule 13D filed with the Securities and Exchange Commission on December 13, 2021, as amended, and is incorporated herein by reference.

**(c)**
The information contained by this item is set forth in Schedule 13D filed with the Securities and Exchange Commission on December 13, 2021, as amended, and is incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The information provided or incorporated by reference in Item 4 is hereby incorporated by reference herein.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders UGP, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders GP, L.P.

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders Fund, L.P.

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders Fund-A, L.P.

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders Fund-B, L.P.

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VBC Growth SPV, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders UGP III, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Chicago Pacific Founders GP III, L.P.

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** CPF III PT SPV, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** CPF III-A PT SPV, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VBC Growth SPV 3, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VBC Growth SPV 4, LLC

**Signature:** /s/ Michael J. Wilson

**Name/Title:** Michael J. Wilson Authorized Signatory

**Date:** 06/06/2025