{"url_path":"/sec/piii/8-k/2026-05-15/body","section_key":"body","section_title":"Body","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1832511/0001832511-26-000024-index.html","accession_number":"0001832511-26-000024","cik":"0001832511","ticker":"PIII","issuer_name":"P3 Health Partners Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1832511/0001832511-26-000024-index.html","primary_entity_key":"0001832511","primary_entity_name":"P3 Health Partners Inc."},"word_count":336,"has_tables":true,"body_markdown":"EX-99.1\n2\npiii-20260515ex991.htm\nEX-99.1\n\nDocument\n\nEX 99.1\n\nP3 HEALTH PARTNERS INC. and SUBSIDIARIES\n\nPRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET\n\n(in thousands, except per share amounts)\n\n(unaudited)\n\nAS REPORTEDPRO FORMA\n\nMarch 31, 2026Debt ConversionSeries D IssuanceMarch 31, 2026\n\nASSETS\n\nCURRENT ASSETS:  \n\nCash $25,497 $— $30,000 $55,497 \n\nRestricted cash605 — — 605 \n\nHealth plan receivable, net of allowance for credit losses of $281\n124,894 — — 124,894 \n\nClinic fees, insurance and other receivable9,060 — — 9,060 \n\nPrepaid expenses and other current assets 12,154 — — 12,154 \n\nTOTAL CURRENT ASSETS172,210 — 30,000 202,210 \n\nProperty and equipment, net 2,964 — — 2,964 \n\nIntangible assets, net472,989 — — 472,989 \n\nOther long-term assets25,994 — — 25,994 \n\nTOTAL ASSETS$674,157 $— $30,000 $704,157 \n\nLIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ (DEFICIT) EQUITY\n \n\nCURRENT LIABILITIES: \n\nAccounts payable$11,672 $— $— $11,672 \n\nAccrued expenses and other current liabilities43,224 — — 43,224 \n\nAccrued payroll 2,773 — — 2,773 \n\nHealth plan settlements payable48,245 — — 48,245 \n\nClaims payable285,898 — — 285,898 \n\nPremium deficiency reserve81,402 — — 81,402 \n\nCurrent portion of long-term debt51,436 — — 51,436 \n\nShort-term debt835 — — 835 \n\nTOTAL CURRENT LIABILITIES525,485 — — 525,485 \n\nOperating lease liability, net\n10,830 — — 10,830 \n\nWarrant liabilities2,132 — — 2,132 \n\nLong-term debt, net259,569 (195,662)— 63,907 \n\nOther long-term liabilities\n9,308 — — 9,308 \n\nTOTAL LIABILITIES 807,324 (195,662)— 611,662 \n\nCOMMITMENTS AND CONTINGENCIES\n\nMEZZANINE EQUITY:\n\nRedeemable non-controlling interest10,381 — — 10,381 \n\nSTOCKHOLDERS’ (DEFICIT) EQUITY:\n \n\nClass A common stock, $0.0001 par value; 800,000 shares authorized; 3,294 shares issued and outstanding as of March 31, 2026— — — — \n\nClass V common stock, $0.0001 par value; 205,000 shares authorized; 3,919 shares issued and outstanding as of March 31, 2026— — — — \n\nSeries A Preferred Stock— 21,293 — 21,293 \n\nSeries B Preferred Stock— 18,802 — 18,802 \n\nSeries C Preferred Stock— 81,669 — 81,669 \n\nSeries D Preferred Stock— — 30,000 30,000 \n\nAdditional paid in capital505,010 73,898 — 578,908 \n\nAccumulated deficit (649,918)— — (649,918)\n\nNon-controlling interest\n1,360 — — 1,360 \n\nTOTAL STOCKHOLDERS’ (DEFICIT) EQUITY\n(143,548)195,662 30,000 82,114 \n\nTOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ (DEFICIT) EQUITY\n$674,157 $— $30,000 $704,157"}