Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(a) Recent Sales of Unregistered Securities
On July 17, 2024, in connection with the IPO, ALH Holdings, LLC (a subsidiary of Ventas, Inc.) contributed all of its
outstanding common stock in AHP Health Partners (our direct subsidiary) to Ardent Health Partners, Inc. in exchange for
5,178,202 shares of common stock of Ardent Health Partners, Inc. (the “ALH Contribution”). The issuance of securities in
the ALH Contribution was deemed to be exempt from registration under the Securities Act of 1933, as amended, pursuant to
Section 4(a)(2) thereof, as a transaction by an issuer not involving any public offering.
(b) Use of Proceeds from Initial Public Offering of Common Stock
On July 17, 2024, our registration statement on Form S-1 (File No. 333-280425) related to the IPO was declared effective by
the SEC. Pursuant to such registration statement, we issued and sold 12,000,000 shares of common stock at a public offering
price of $16.00 per share on July 19, 2024. We received net proceeds of approximately $181.4 million , after deducting
underwriting discounts and commissions of approximately $10.6 million . On July 30, 2024, in conjunction with the
underwriters exercising their option to purchase additional shares, we issued an additional 1,800,000 shares of common stock
at the initial public offering price of $16.00 per share for additional net proceeds of approximately $27.2 million , after
deducting underwriting discounts and commissions of approximately $1.6 million . None of the expenses associated with the
IPO were paid to directors, officers, or persons owning 10% or more of any class of equity securities, or to our affiliates.
There has been no material change in the planned use of proceeds from the IPO from those described in the Final Prospectus,
dated July 17, 2024, filed with the SEC on July 18, 2024, pursuant to Rule 424(b) of the Securities Act. J.P. Morgan
Securities LLC, BofA Securities, Inc. and Morgan Stanley & Co. LLC acted as joint book-running managers for the IPO. For
additional details on the IPO, refer to Note 1 “Description of the Business and Basis of Presentation—Initial Public Offering
and Corporate Conversion” in the notes to the unaudited condensed consolidated financial statements included elsewhere in
this Quarterly Report .
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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