Bright Health Group Announces Launch of Initial Public Offering

MINNEAPOLIS--(BUSINESS WIRE)--Bright Health Group today announced the launch of its initial public offering of 60,000,000 shares of its common stock pursuant to a registration statement filed with the Securities and Exchange Commission. The initial public offering price is expected to be between $20.00 and $23.00 per share. As part of the offering, Bright Health Group intends to grant to the underwriters a 30-day option to purchase up to an additional 7,200,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Bright Health Group intends to list its common stock on the New York Stock Exchange under the symbol "BHG".

Bright Health Group intends to use the proceeds of the offering to repay all outstanding borrowings under its credit agreement and the remainder for working capital and other general corporate purposes, including continued investments in the growth of its business.

J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are acting as lead joint book-running managers for the proposed offering. BofA Securities, Citigroup and Piper Sandler are acting as additional bookrunners. Nomura and RBC Capital Markets are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, collect telephone: [phone], or by emailing at [e-mail]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [e-mail] or telephone at 1-888-603-5847.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

ABOUT BRIGHT HEALTH GROUP

Bright Health Group is built upon the belief that by aligning the best local resources in healthcare delivery with the financing of care, we can drive a superior consumer experience, optimize clinical outcomes, reduce systemic waste and lower costs. We are a healthcare company that is building a national, integrated system of care, in close partnership with our Care Partners. Our differentiated approach is: Built on Alignment, Focused on the Consumer, and Powered by Technology. We have two market facing business: NeueHealth and Bright HealthCare. Through NeueHealth we deliver high-quality virtual and in-person clinical care to nearly 75,000 unique patients through our 61 affiliated risk-bearing primary care clinics. Through Bright HealthCare we offer Medicare and Commercial health plan products to approximately 623,000 consumers in 14 states and 99 markets. We are making healthcare right. Together.