Agilon Health’s $1.2 Billion Initial Public Offering

Debevoise & Plimpton LLP advised agilon health, inc. In the transaction, while Cravath represented the underwriters.

agilon health, inc. (NYSE: AGL) closed its initial public offering of 53,590,000 shares of its common stock at the public offering price of $23.00. The number of shares offered and sold by agilon health included the full exercise of the underwriters’ option to purchase up to an additional 6,990,000 shares of common stock. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other expenses payable by agilon health, were approximately $1,233 million.

agilon health’s common shares began trading on the New York Stock Exchange on April 15, under the ticker symbol AGL.

J.P. Morgan, Goldman Sachs & Co. LLC, and BofA Securities acted as lead book-running managers for the proposed offering. Deutsche Bank Securities, Wells Fargo Securities, Nomura, William Blair, and Truist Securities acted as additional book-running managers.

agilon health partners with primary care physicians to deliver a new and innovative standard of quality and efficiency around senior patient care and experience. Based in Long Beach, California, the company focuses on a Total Care Model powered by its purpose-built platform through a national network of physician partners. The platform helps free physicians from the constraints of the transactional fee-for-service reimbursement model and allows them to practice team-based, coordinated care to serve the individual needs of their senior patients.

The Debevoise team advising agilon healt was led by capital markets partners Paul Rodel (Picture) and Peter Loughran and included associates Benjamin Pedersen, Devon Klein, Charlotte Walkovik, Jason Auman, Kimberly Drexler and Lee Henderson, M&A associate Kim Le, benefits partner Meir Katz and associate David Deutsch and tax partner Peter Furci.

Cravath represented the underwriters with partner William V. Fogg and associates Kathryn Kennedy Bleday, Eric S. Goodwin, Joseph A. Marshall and Alexandra J. Valicenti. Ahra Cho also worked on this matter.

Involved fees earner: Jason Auman – Debevoise & Plimpton; David Deutsch – Debevoise & Plimpton; Kimberly Drexler – Debevoise & Plimpton; Peter Furci – Debevoise & Plimpton; Lee Henderson – Debevoise & Plimpton; Meir Katz – Debevoise & Plimpton; Devon Klein – Debevoise & Plimpton; Kim Le – Debevoise & Plimpton; Peter Loughran – Debevoise & Plimpton; Benjamin Pedersen – Debevoise & Plimpton; Paul Rodel – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Agilon Health; Bank of America Securities; Deutsche Bank Securities; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Nomura; Truist Securities Inc. ; Wells Fargo Securities; William Blair & Company, L.L.C.;

Martina Bellini

Author: Martina Bellini