PACS Group, Inc. Announces Intended Offering of Its Common Stock

PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”) today announced the commencement of an underwritten public offering of 13,888,890 shares of its common stock, including 2,777,778 shares of common stock sold by the Company and 11,111,112 shares of common stock sold by certain selling stockholders. The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 2,083,332 shares of common stock. PACS will not receive any proceeds from any sale of shares by the selling stockholders. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

Citigroup, JP Morgan and Truist Securities are acting as lead book-running managers for the offering. RBC Capital Markets, Goldman Sachs & Co. LLC and UBS Investment Bank are acting as joint book-running managers. Stephens Inc. and Oppenheimer & Co. are acting as co-managers.