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8-K primary document
PIII · Current Report (Form 8-K) · Filed May 15, 2026

P3 Health Partners Inc — 8-K exhibit

piii-20260515ex991.htm
P3 Health Partners Inc on Boardroom Alpha
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EX 99.1
P3 HEALTH PARTNERS INC. and SUBSIDIARIES
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
(in thousands, except per share amounts)
(unaudited)
AS REPORTEDPRO FORMA
March 31, 2026Debt ConversionSeries D IssuanceMarch 31, 2026
ASSETS
CURRENT ASSETS:  
Cash $25,497 $— $30,000 $55,497 
Restricted cash605 — — 605 
Health plan receivable, net of allowance for credit losses of $281
124,894 — — 124,894 
Clinic fees, insurance and other receivable9,060 — — 9,060 
Prepaid expenses and other current assets 12,154 — — 12,154 
TOTAL CURRENT ASSETS172,210 — 30,000 202,210 
Property and equipment, net 2,964 — — 2,964 
Intangible assets, net472,989 — — 472,989 
Other long-term assets25,994 — — 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 liabilities43,224 — — 43,224 
Accrued payroll 2,773 — — 2,773 
Health plan settlements payable48,245 — — 48,245 
Claims payable285,898 — — 285,898 
Premium deficiency reserve81,402 — — 81,402 
Current portion of long-term debt51,436 — — 51,436 
Short-term debt835 — — 835 
TOTAL CURRENT LIABILITIES525,485 — — 525,485 
Operating lease liability, net
10,830 — — 10,830 
Warrant liabilities2,132 — — 2,132 
Long-term debt, net259,569 (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 interest10,381 — — 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 capital505,010 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 

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