03:41 AM EDT, 04/11/2024 (MT Newswires) -- PACS Group ( PACS ) said late Wednesday it priced its initial public offering of approximately 21.4 million common shares at $21 per share for gross proceeds of about $450 million.

Certain selling stockholders have granted the underwriters a 30-day option to purchase up to 3.2 million additional shares. The company said it will not receive proceeds from the sale of shares by stockholders.

The offering, which has been upsized from about 19.1 million shares, is anticipated to close on April 15, subject to customary conditions.

The shares are expected to debut on the New York Stock Exchange on Thursday under the ticker "PACS."