Aveanna (AVAH) 10% Owner Paul R. Vigano Sells Shares

What Happened

• Paul R. Vigano, a managing member/affiliate of several J.H. Whitney-related entities and identified as a 10% owner, disposed of 16,750,002 shares of Aveanna Healthcare (AVAH) in transactions on August 20–21, 2026. All sales were at $11.50 per share for aggregate proceeds of approximately $192.6 million. Most shares were sold in an underwritten secondary offering on August 20, and 2,250,000 additional shares were sold on August 21 pursuant to the underwriters’ option to purchase additional shares.

Key Details

• Transaction dates and price: Aug 20–21, 2026; all sales at $11.50 per share.
  • Aug 20: J.H. Whitney VII, L.P. — 10,112,125 shares ($116,289,438)
  • Aug 20: PSA Healthcare Investment Holding LLC — 957,918 shares ($11,016,057)
  • Aug 20: JHW Iliad Holdings, LLC — 1,813,795 shares ($20,858,643)
  • Aug 20: PSA Iliad Holdings LLC — 1,426,034 shares ($16,399,391)
  • Aug 20: JHW Iliad Holdings II LLC — 190,130 shares ($2,186,495)
  • Aug 21: PSA Healthcare Investment Holding LLC (option shares) — 2,250,000 shares ($25,875,000)
• Total: 16,750,002 shares sold for ~$192,625,024.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes: Sales were by multiple J.H. Whitney-related stockholder entities in an underwritten secondary offering; the Aug 21 sale was pursuant to the underwriters’ option. Vigano is a managing member/affiliate of the reporting entities and may be deemed to share voting/dispositive power but disclaims beneficial ownership except to the extent of his pecuniary interest (see footnotes F1–F4, F5–F10).
• Filing timeliness: Form 4 was filed Aug 24, 2026 (timely within required reporting window for the Aug 20–21 trades).

Context

• These were institutional stockholder sales through an underwritten secondary offering (including the exercise of the underwriters’ option), rather than open-market insider cash sales noted as individual personal trades. As a 10% owner and affiliate through multiple entities, Vigano’s disclosures reflect the dispositions by those institutional entities; this filing does not provide insight into personal trading motives. Purchases typically carry more direct bullish signal than routine secondary offering sales; these transactions are primarily liquidity-related for stockholder entities.