P3 Health Partners Inc.

05/15/2026 | Press release | Distributed by Public on 05/15/2026 15:02

Failure to Satisfy Listing Rule (Form 8-K)


EX 99.1
P3 HEALTH PARTNERS INC. and SUBSIDIARIES
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
(in thousands, except per share amounts)
(unaudited)
AS REPORTED PRO FORMA
March 31, 2026 Debt Conversion Series D Issuance March 31, 2026
ASSETS
CURRENT ASSETS:
Cash $ 25,497 $ - $ 30,000 $ 55,497
Restricted cash 605 - - 605
Health plan receivable, net of allowance for credit losses of $281
124,894 - - 124,894
Clinic fees, insurance and other receivable 9,060 - - 9,060
Prepaid expenses and other current assets 12,154 - - 12,154
TOTAL CURRENT ASSETS 172,210 - 30,000 202,210
Property and equipment, net 2,964 - - 2,964
Intangible assets, net 472,989 - - 472,989
Other long-term assets 25,994 - - 25,994
TOTAL ASSETS $ 674,157 $ - $ 30,000 $ 704,157
LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' (DEFICIT) EQUITY
CURRENT LIABILITIES:
Accounts payable $ 11,672 $ - $ - $ 11,672
Accrued expenses and other current liabilities 43,224 - - 43,224
Accrued payroll 2,773 - - 2,773
Health plan settlements payable 48,245 - - 48,245
Claims payable 285,898 - - 285,898
Premium deficiency reserve 81,402 - - 81,402
Current portion of long-term debt 51,436 - - 51,436
Short-term debt 835 - - 835
TOTAL CURRENT LIABILITIES 525,485 - - 525,485
Operating lease liability, net
10,830 - - 10,830
Warrant liabilities 2,132 - - 2,132
Long-term debt, net 259,569 (195,662) - 63,907
Other long-term liabilities
9,308 - - 9,308
TOTAL LIABILITIES 807,324 (195,662) - 611,662
COMMITMENTS AND CONTINGENCIES
MEZZANINE EQUITY:
Redeemable non-controlling interest 10,381 - - 10,381
STOCKHOLDERS' (DEFICIT) EQUITY:
Class A common stock, $0.0001 par value; 800,000 shares authorized; 3,294 shares issued and outstanding as of March 31, 2026 - - - -
Class V common stock, $0.0001 par value; 205,000 shares authorized; 3,919 shares issued and outstanding as of March 31, 2026 - - - -
Series A Preferred Stock - 21,293 - 21,293
Series B Preferred Stock - 18,802 - 18,802
Series C Preferred Stock - 81,669 - 81,669
Series D Preferred Stock - - 30,000 30,000
Additional paid in capital 505,010 73,898 - 578,908
Accumulated deficit (649,918) - - (649,918)
Non-controlling interest
1,360 - - 1,360
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY
(143,548) 195,662 30,000 82,114
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' (DEFICIT) EQUITY
$ 674,157 $ - $ 30,000 $ 704,157

P3 Health Partners Inc. published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 15, 2026 at 21:02 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]