P3 Health Partners Inc 10-Q for FY2022 Q2

P3 Health Partners Inc. (PIII)

10-Q 2022-10-21 For: 2022-06-30

Added on April 07, 2026

About this 10-Q

P3 Health Partners Inc filed this 10-Q on October 21, 2022, covering the quarter ended June 30, 2022 (FY2022 Q2).

Headline figures

Quarter ended June 30, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $269.45M; up 86.4% from $144.59M a year earlier
Net loss: $154.35M; compared with a net loss of $29.46M a year earlier
Diluted EPS: -$3.73

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Delaware	85-2992794
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
2370 Corporate Circle Suite 300 Henderson, Nevada	89074
(Address of principal executive offices)	(Zip code)


Large accelerated filer ☐	Accelerated filer ☐	Non-accelerated filer ☒	Smaller reporting company ☒	Emerging growth company ☒


		Page
	Cautionary Statement Regarding Forward-Looking Statements	3

PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements	5
	Condensed Consolidated Balance Sheets	5
	Condensed Consolidated Statements of Operations	6
	Condensed Consolidated Statements of Stockholders’ Equity (Deficit) and Mezzanine Equity	7
	Condensed Consolidated Statements of Cash Flows	8
	Notes to Unaudited Condensed Consolidated Financial Statements	9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	43
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	58
Item 4.	Controls and Procedures	58

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	60
Item 1A.	Risk Factors	60
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	60
Item 3.	Defaults Upon Senior Securities	60
Item 4.	Mine Safety Disclosures	61
Item 5.	Other Information	61
Item 6.	Exhibits	62

SIGNATURES		64


	As of June 30, 2022		As of December 31, 2021
ASSETS
CURRENT ASSETS:
Cash	$	63,145,379	$	140,477,586
Restricted Cash		753,920		356,286
Health Plan Receivables, Net		99,806,410		50,251,004
Clinic Fees and Insurance Receivables, Net		1,931,291		1,090,104
Other Receivables		261,935		726,903
Prepaid Expenses and Other Current Assets		5,080,149		6,959,067
TOTAL CURRENT ASSETS		170,979,084		199,860,950
LONG-TERM ASSETS:
Property and Equipment		9,630,761		8,230,250
Less: Accumulated Depreciation		(1,337,796)		(182,321)
Property and Equipment, Net		8,292,965		8,047,929
Goodwill		458,294,462		1,309,750,216
Intangible Assets, Net		793,553,591		835,838,605
Notes Receivable, Net		3,579,220		3,590,715
Right of Use Asset		9,510,518		7,020,045
TOTAL LONG-TERM ASSETS		1,273,230,756		2,164,247,510
TOTAL ASSETS ⁽¹⁾	$	1,444,209,840	$	2,364,108,460
LIABILITIES, MEZZANINE EQUITY and STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts Payable and Accrued Expenses	$	20,693,070	$	17,730,683
Accrued Payroll		3,263,338		6,304,362
Health Plans Settlements Payable		18,022,395		22,548,694
Claims Payable		139,322,367		101,958,324
Premium Deficiency Reserve		35,021,557		37,835,642
Accrued Interest		11,329,930		8,771,065
Current Portion of Long-Term Debt		—		46,101
Short-Term Debt		1,178,229		3,578,561
TOTAL CURRENT LIABILITIES		228,830,886		198,773,432
LONG-TERM LIABILITIES:
Right of Use Liability		10,575,753		6,296,883
Warrant Liabilities		5,429,009		11,382,826
Contingent Consideration		3,674,192		3,486,593
Long-Term Debt		80,000,000		80,000,000
TOTAL LONG-TERM LIABILITIES		99,678,954		101,166,302
TOTAL LIABILITIES ⁽¹⁾		328,509,840		299,939,734
COMMITMENTS AND CONTINGENCIES (NOTE 23)
MEZZANINE EQUITY
Redeemable Non-Controlling Interest		1,007,075,525		1,790,617,285
STOCKHOLDERS’ EQUITY:
Class A Common Stock, $.0001 par value; 800,000,000 shares authorized; 41,578,890 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively		4,158		4,158
Class V Common Stock, $.0001 par value; 205,000,000 shares authorized; 201,423,309 shares and 196,553,523 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively		20,142		19,655
Additional Paid in Capital		312,945,752		312,945,752
Accumulated Deficit		(204,345,577)		(39,418,124)
TOTAL STOCKHOLDERS’ EQUITY		108,624,475		273,551,441
TOTAL LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS’ EQUITY	$	1,444,209,840	$	2,364,108,460


	Successor		Predecessor		Successor		Predecessor
	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
			(As Restated)				(As Restated)
OPERATING REVENUE:
Capitated Revenue	$	267,102,466	$	141,560,867	$	536,787,281	$	290,525,057
Other Patient Service Revenue		2,351,505		3,025,577		6,211,024		5,359,329
TOTAL OPERATING REVENUE		269,453,971		144,586,444		542,998,305		295,884,386
OPERATING EXPENSES:
Medical Expenses		267,448,368		150,380,517		533,269,170		297,005,022
Premium Deficiency Reserve		(1,489,571)		1,000,000		(2,814,084)		3,000,000
Corporate, General and Administrative Expenses		41,098,400		18,390,659		79,697,812		33,449,735
Sales and Marketing Expenses		1,408,096		356,501		2,272,626		626,742
Goodwill impairment		851,455,754		—		851,455,754		—
Depreciation and Amortization		21,720,081		429,830		43,471,912		762,378
TOTAL OPERATING EXPENSES		1,181,641,128		170,557,507		1,507,353,190		334,843,877
OPERATING LOSS		(912,187,157)		(25,971,063)		(964,354,885)		(38,959,491)
OTHER INCOME (EXPENSES):
Interest Expense, net		(2,733,875)		(2,369,764)		(5,495,125)		(4,494,049)
Mark-to-Market of Stock Warrants		11,815,093		(1,123,583)		5,953,817		(10,661,579)
TOTAL OTHER INCOME (EXPENSE)		9,081,218		(3,493,347)		458,692		(15,155,628)
LOSS BEFORE INCOME TAXES		(903,105,939)		(29,464,410)		(963,896,193)		(54,115,119)

PROVISION FOR INCOME TAXES		—		—		—		—
NET LOSS		(903,105,939)		(29,464,410)		(963,896,193)		(54,115,119)
LESS NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTERESTS		(748,755,990)		—		(798,968,740)		—
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS	$	(154,349,949)	$	(29,464,410)	$	(164,927,453)	$	(54,115,119)
NET LOSS PER SHARE (BASIC)	$	(3.71)		N/A¹	$	(3.97)		N/A¹
NET LOSS PER SHARE (DILUTED)	$	(3.73)		N/A¹	$	(4.01)		N/A¹


	Class A			Class D			Class B-1			Class C			Redemption of
	Units	Amount		Units	Amount		Units	Amount		Units	Amount		Profit Interest		Accumulated Deficit		Total Members’ Deficit
MEMBERS' DEFICIT, DECEMBER 31, 2020 As Restated	43,000,000	$	43,656,270	16,130,034	$	47,041,554	6,000,000	$	380,000	1,302,083	$	67,474	$	(180,000)	$	(130,485,179)	$	(130,217,705)
Class C Unit Based Compensation	—		—	—		—	—		—	333,750		460,515		—		—		460,515
Net Loss	—		—	—		—	—		—	—		—		—		(24,650,712)		(24,650,712)
MEMBERS’ DEFICIT, MARCH 31, 2021 As Restated	43,000,000	$	43,656,270	16,130,034	$	47,041,554	6,000,000	$	380,000	1,635,833	$	527,989	$	(180,000)	$	(155,135,891)	$	(154,407,902)
Class B-1 and Class C Unit Based Compensation	—		—	—		—	2,000,000		380,000	140,000		183,792		—		—		563,792
Net Loss	—		—	—		—	—		—	—		—		—		(29,464,410)		(29,464,410)
MEMBERS’ DEFICIT, June 30, 2021 As Restated	43,000,000	$	43,656,270	16,130,034		47,041,554	8,000,000	$	760,000	1,775,833	$	711,781	$	(180,000)	$	(184,600,301)	$	(183,308,520)


	Successor
	Redeemable
	Noncontrolling		Class A Common Stock			Class V Common Stock			Additional		Accumulated		Total
	Interests		Shares	Amount		Shares	Amount		Paid in Capital		Deficit		Stockholders' Equity
STOCKHOLDERS' EQUITY (DEFICIT), December 31, 2021	$	1,790,617,285	41,578,890	$	4,158	196,553,523	$	19,655	$	312,945,752	$	(39,418,124)	$	273,551,441
Vesting of stock compensation awards		—	—		—	549,822		55		—		—		55
Stock compensation		11,711,427	—		—	—		—		—		—		—
Net Loss		(50,212,750)	—		—	—		—		—		(10,577,504)		(10,577,504)
STOCKHOLDERS' EQUITY (DEFICIT), March 31, 2022	$	1,752,115,962	41,578,890	$	4,158	197,103,345	$	19,710	$	312,945,752	$	(49,995,628)	$	262,973,992
Vesting of stock compensation awards		—	—		—	4,319,964		432		—		—		432
Stock compensation		3,715,553	—		—	—		—		—		—		—
Net Loss		(748,755,990)	—		—	—		—		—		(154,349,949)		(154,349,949)
STOCKHOLDERS' EQUITY (DEFICIT), June 30, 2022	$	1,007,075,525	41,578,890		4,158	201,423,309		20,142		312,945,752		(204,345,577)		108,624,475


	As Previously		Network		Preferred Returns		Class A Units		Revenue
	Reported		Adjustments		Adjustments		Adjustments		Adjustment		As Restated
Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2021 (Unaudited)
Capitated Revenue	$	294,860,130	$	—	$	—	$	—	$	(4,335,073)	$	290,525,057
Other Patient Service Revenue		8,122,849		—		—		—		(2,763,520)		5,359,329
Total Operating Revenue		302,982,979		—		—		—		(7,098,593)		295,884,386
Medical Expenses		297,570,662		—		—		—		(565,640)		297,005,022
Total Operating Expenses		335,409,517		—		—		—		(565,640)		334,843,877
Operating Loss		(32,426,538)		—		—		—		(6,532,953)		(38,959,491)
Interest Expense, net		(8,487,374)		—		3,993,325		—		—		(4,494,049)
Total Other Expenses		(19,148,953)		—		3,993,325		—		—		(15,155,628)
Net Loss Attributable to Non-Controlling Interests		(5,241,713)		5,241,713		—		—		—		—
Net Loss (formerly Net Loss Attributable to Controlling Interests)		(46,333,778)		(5,241,713)		3,993,325		—		(6,532,953)		(54,115,119)

Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2021 (Unaudited)
Capitated Revenue	$	147,159,665	$	—	$	—	$	—	$	(5,598,799)	$	141,560,866
Other Patient Service Revenue		4,258,933		—		—		—		(1,233,356)		3,025,577
Total Operating Revenue		151,418,598		—		—		—		(6,832,155)		144,586,443
Medical Expenses		150,679,717		—		—		—		(299,200)		150,380,517
Total Operating Expenses		170,856,707		—		—		—		(299,200)		170,557,507
Operating Loss		(19,438,108)		—		—		—		(6,532,955)		(25,971,063)
Interest Expense, net		(4,406,240)		—		2,036,476		—		—		(2,369,764)
Total Other Expenses		(5,529,823)		—		2,036,476		—		—		(3,493,347)
Net Loss Attributable to Non-Controlling Interests		(1,959,421)		1,959,421		—		—		—		—
Net Loss (formerly Net Loss Attributable to Controlling Interests)		(23,008,510)		(1,959,421)		2,036,476		—		(6,532,955)		(29,464,410)

Condensed Consolidated Statement of Changes in Members' Deficit for the Six Months Ended June 30, 2021
Preferred Return at 8% for Class A Units	$	1,817,564	$	—	$	(1,817,564)	$	—	$	—	$	—
Net Loss		(51,575,491)		—		3,993,325		—		(6,532,953)		(54,115,119)
Balance as of June 30,2021		(146,395,455)		—		6,743,106		(43,656,170)		—		(183,308,519)

Condensed Consolidated Statement of Changes in Members' Deficit for the Three Months Ended June 30, 2021
Preferred Return at 8% for Class A Units	$	926,852	$	—	$	(926,852)	$	—	$	—	$	—
Net Loss		(24,967,931)		—		2,036,476		—		(6,532,955)		(29,464,410)
Balance as of June 30,2021		(146,395,455)		—		6,743,106		(43,656,170)		—		(183,308,519)

Condensed Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2021
Net Loss	$	(51,575,491)	$	—	$	3,993,325	$		$	(6,532,953)	$	(54,115,119)
Health Plan Settlements Receivable/Premiums Receivable		(5,320,861)								6,532,953		1,212,092
Class A and Class D Preferred Returns		3,993,325		—		(3,993,325)				—		—

Condensed Consolidated Statements of Changes in Members' Deficit for the 3 Months Ended March 31, 2021
Preferred Return at 8% for Class A Units	$	890,612	$		$	(890,612)	$	—	$	—	$	—
Net Loss		(26,607,560)				1,956,848		—		—		(24,650,712)
Balance as of March 31,2021		(122,918,168)				5,633,581		(43,656,269)		6,532,954		(154,407,902)

Consolidated Statements of Changes in Members' Deficit for the Year Ended December 31, 2020
Balance as of December 31, 2020	$	(97,661,735)	$	—	$	4,567,346	$	(43,656,270)	$	6,532,954	$	(130,217,705)


	Successor
	June 30, 2022		December 31, 2021
Unrestricted	$	63,145,379	$	140,477,586
Restricted		753,920		356,286
Total Cash Balances	$	63,899,299	$	140,833,872


	Health Plan Receivables
	Successor
	June 30, 2022		December 31, 2021
Health Plan A	$	4,296,896	$	4,695,712
Health Plan B		24,371,497		15,473,828
Health Plan C		32,543,742		1,380,752
Health Plan D		13,749,578		6,651,586
Health Plan E		517,654		2,439,046
Health Plan F		1,435,258		2,925,751
Health Plan G		19,890		239,375
Health Plan H		3,795,423		2,185,619
Health Plan I		1,504,353		1,134,750
Health Plan J		317,704		149,915
Health Plan K		666,312		2,705,147
Health Plan L		260,317		899,560
Health Plan M		3,310,581		1,747,116
Health Plan N		1,596,377		974,092
Health Plan O		2,696,375		666,291
Health Plan P		415,688		106,162
Health Plan Q		351,090		61,990
Health Plan R		4,426,655		3,578,682
Health Plan S		600,639		—
Health Plan T		2,198,285		2,175,324
Health Plan U		723,797		60,306
Health Plan W		8,299		—
Total Health Plan Receivables	$	99,806,410	$	50,251,004


	Health Plan Settlement Payables
	Successor
	June 30, 2022		December 31, 2021
Health Plan A	$	109,085	$	—
Health Plan B		11,700,274		11,700,274
Health Plan D		—		3,882,250
Health Plan F		5,144,469		6,085,425
Health Plan G		885,194		776,164
Health Plan I		(147,868)		(215,626)
Health Plan O		16,552		(39,151)
Health Plan U		226,209		226,209
Health Plan V		88,480		133,149
Total Health Plan Settlement Payables	$	18,022,395	$	22,548,694


	Successor
	December 31,
Foresight	2021
Equity	$	80,300,733
Fair Value of Non-controlling Interest		1,807,427,576
Stock Compensation Pre-combination Services		26,313,476
Cash Consideration		18,405,083
Payment of P3 Health Group Holdings, LLC’s Transaction Costs		19,151,752
Total Purchase Consideration	$	1,951,598,620


Purchase Price Allocation	Amounts
Assets Acquired:
Cash	$	5,300,842
Restricted Cash		54,095
Health Plan Settlement Receivables		47,733,033
Clinic Fees and Insurance Receivables, Net		426,064
Other Receivables		1,880,939
Prepaid Expenses and Other Current Assets		938,413
Property and Equipment, Net		7,875,234
Intangible Assets, Net:
Customer Relationships		684,000,000
Provider Network		3,700,000
Trademarks		147,700,000
Goodwill		1,278,452,778
Notes Receivable		3,734,012
Right of Use Assets		6,870,279
Total Assets Acquired	$	2,188,665,689

Liabilities Assumed:
Accounts Payable and Accrued Expenses	$	25,819,091
Accrued Payroll		2,868,664
Health Plans Settlements Payable		25,007,542
Claims Payable		76,031,460
Premium Deficiency Reserve		11,559,067
Accrued Interest		9,268,846
Current Portion of Long-Term Debt		301,443
Lease Liability		6,210,956
Long-Term Debt, Net of Current Portion		80,000,000
Total Liabilities Assumed	$	237,067,069
Net Assets Acquired	$	1,951,598,620


Purchase Price Allocation	Successor Period		Predecessor Period
Assets Acquired:
Cash	$	20,547,337	$	3,000
Restricted Cash		302,187		—
Health Plan Settlement Receivables		5,754,006		—
Clinic Fees and Insurance Receivables, Net		141,186		—
Other Receivables		726,378		—
Prepaid Expenses and Other Current Assets		1,189,575		—
Property and Equipment, Net		113,436		5,896
Intangible Assets, Net:				—
Customer Relationships		—		2,045,604
Pay or Contracts		4,700,271
Provider Network		1,100,000		—
Trademarks		900,000		—
Medical Licenses		700,000		—
Goodwill		31,297,438		2,934,500
Total Assets Acquired	$	67,471,814	$	4,989,000

Liabilities Assumed:
Accounts Payable and Accrued Expenses	$	150,196	$	—
Accrued Payroll		277,074		—
Health Plans Settlements Payable		133,149		—
Claims Payable		26,898,074		—
Total Liabilities Assumed		27,458,493		—
Net Assets Acquired	$	40,013,321	$	4,989,000


	Six Months Ended
	June 30,
	2021
	(Unaudited)
Total Operating Revenue	$	369,698,137
Net Profit	$	(173,796,294)
Net Loss Attributable to Non-controlling Interest	$	(143,555,739)
Net Loss Attributable to Controlling Interest	$	(30,240,555)


	Level 1		Level 2		Level 3		Total
Warrant liability as of June 30, 2022	$	5,270,834	$	—	$	158,175	$	5,429,009
Warrant liability as of December 31, 2021		10,880,550		—		502,276		11,382,826


Volatility		65.00	%
Risk-Free Interest rate		3.00	%
Exercise Price	$	11.50
Expected Term		4.4	Years


Volatility		60.00	%
Risk-Free Interest rate		1.26	%
Exercise Price	$	11.50
Expected Term		4.9	Years


	Successor		Predecessor
	Six Months Ended June		Six Months Ended June
	30, 2022		30, 2021
Beginning Balance of Private Warrant Liability	$	502,276	$	6,316,605
Mark-to-Market Adjustment for Stock Warrants		(344,101)		10,661,579
Ending Balance of Private Warrant Liability	$	158,175	$	16,978,184


	June 30, 2022
Balance at December 31, 2021	$	1,309,750,216
Impairment charges		(851,455,754)
Balance at June 30, 2022	$	458,294,462


	Customer						Provider		Medical
	Relationships		Trademarks		Payor Contracts		Network		Licenses		Total
Balance at December 31, 2021	$	678,300,000	$	147,369,167	$	4,700,271	$	4,769,167	$	700,000	$	835,838,605
Amortization		(34,200,000)		(7,610,000)		(235,014)		(240,000)		—		(42,285,014)
Balance at June 30, 2022	$	644,100,000		139,759,167		4,465,257		4,529,167		700,000		793,553,591


Successor	LTD-A		LTD-C		LTD-D		LTD-E		Total
Balance at December 31, 2021	$	—	$	15,000,000	$	65,000,000	$	46,101	$	80,046,101
Issued in 2022		—		—		—		—		—
Principal Payments in 2022		—		—		—		(46,101)		(46,101)
Balance at June 30, 2022	$	—	$	15,000,000	$	65,000,000	$	—	$	80,000,000


			Interest
							Total Cash
	Principal		PIK		Cash Interest		Payments*
July 1, 2022 to December 31, 2022	$	—	$	2,660,461	$	2,788,374	$	2,788,374
2023		—		5,624,513		5,675,461		5,675,461
2024		—		6,061,814		5,882,309		5,882,309
2025		65,000,000		6,274,526		19,518,225		84,518,225
2026		15,000,000		1,851,284		20,054,451		35,054,451
Total	$	80,000,000	$	22,472,598	$	53,918,820	$	133,918,820


	Weighted			Weighted
	Average			Average
	Grant-Date		Time Based	Grant-Date		Performance
	Fair Value		Units	Fair Value		Based Units
Outstanding and non-vested at December 31, 2021	$	9.20	5,471,400	$	—	—
Granted during period		—	—		—	—
Vested		9.20	4,869,786		—	—
Cancelled/forfeited		—	—		—	—
Outstanding and non-vested at June 30, 2022	$	9.20	601,614	$	—	—


			Weighted
			Average
	Number of	Weighted	Remaining
	Options	Average	Contractual
	Outstanding	Exercise Price	Life (Years)
Outstanding and non-vested at December 31, 2021	—	—	—
Granted	2,034,279	6.43	3.10
Vested	66,667	5.02	—
Cancelled/forfeited	—	—	—
Outstanding and non-vested at June 30, 2022	1,967,612	6.48	2.77


	Successor
	Three Months Ended June 30,		Six Months Ended June 30,
	2022		2022
Numerator - Basic:
Net loss	$	(903,105,939)	$	(963,896,193)
Less: Net loss attributable to Non-controlling interest		(748,755,990)		(798,968,740)
Net loss attributable to Class A common stockholders - Basic		(154,349,949)		(164,927,453)

Numerator - Diluted:
Net loss attributable to Class A common stockholders - Basic	$	(154,349,949)	$	(164,927,453)
Add: Net loss and tax effect attributable to Non-controlling interest		(748,755,990)		(798,968,740)
Net loss attributable to Class A common stockholders - Diluted		(903,105,939)		(963,896,193)

Denominator - Basic:
Weighted average Class A common shares outstanding - Basic		41,578,890		41,578,890
Loss per share attributable to Class A common shareholders - Basic	$	(3.71)	$	(3.97)

Denominator - Diluted:
Weighted average Class A common shares outstanding - Basic		41,578,890		41,578,890
Weighted average effect of dilutive Class V shares		200,473,866		198,782,864
Weighted average Class A common shares outstanding - Diluted		242,052,756		240,361,754
Loss per share attributable to Class A common shareholders - Diluted	$	(3.73)	$	(4.01)


		Successor
		As of June 30, 2022
Public Warrants		10,591,605
Private Warrants		227,500
Restricted Shares		601,614
Options		2,134,279
		13,554,998


	June 30, 2022
July 1, 2022 to December 31, 2022	$	419,351
2023		2,117,494
2024		2,716,584
2025		2,366,864
2026		1,762,184
Thereafter		3,973,507
Total Payments		13,355,984
Less: Interest		(2,447,475)
Present Value of Lease Liabilities	$	10,908,509


	Successor
	June 30, 2022
Balance at Beginning of Period	$	25,882,296
Advanced During Period		2,223,912
Interest Accrued During period		437,236
Balance at End of Period	$	28,543,444


	Payments due by Period
			Less than						More than
	Total		1 year		1-3 years		3-5 years		5 years
Unpaid Claims	$	139,322	$	139,322	$	—	$	—	$	—
Short-term debt		1,178		1,178		—		—		—
Term loan		65,000		—		—		65,000		—
Unsecured debt		15,000		—		—		15,000		—
Lease obligation		10,909		343		3,949		3,372		3,245
Other		—		—		—		—		—
Total	$	231,409	$	140,843	$	3,949	$	83,372	$	3,245


Exhibit Number	Description	Form	File No.	Exhibit	Filing Date	Filed/Furnished Herewith

2.1	Agreement and Plan of Merger, dated as of May 25, 2021, by and between Foresight, P3 Health Group Holdings, LLC, FAC Merger Sub LLC.	8-K	001-40033	2.1	6/1/2021
2.2	Transaction and Combination Agreement, dated as of May 25, 2021, by and among Foresight, the Merger Corps, the Blockers, Splitter and the Blocker Sellers.	8-K	001-40033	2.2	6/1/2021
2.3	First Amendment to Merger Agreement, dated as of November 21, 2021, by and among Foresight, Merger Sub and P3.	8-K	001-40033	2.1	11/22/2021
2.4	Second Amendment, dated as of December 3, 2021, to the Agreement and Plan of Merger, dated as of May 25, 2021, by and among Foresight Acquisition Corp. (“Foresight”), FAC merger Sub LLC and P3 Health Group Holdings, LLC.	8-K	001-40033	2.4	12/3/2021
2.5	The First Amendment to the Transaction and Combination Agreement between Foresight, the Merger Corps, the Blockers, Splitter and the Blocker Sellers.	8-K	001-40033	2.5	12/3/2021
3.1	Amended and Restated Certificate of Incorporation of the Company.	8-K	001-40033	3.1	12/3/2021
3.2	Bylaws of the Company.	8-K	001-40033	3.2	12/3/2021
10.1	Employment Agreement, by and among P3 Health Partners Inc., P3 Health Group Management, LLC and Dr. Sherif Abdou.	8-K	001-40033	10.1	5/18/2022
10.2	Employment Agreement, by and among P3 Health Partners Inc., P3. Health Group Management LLC and Dr. Amir Bacchus.	8-K	001-40033	10.2	5/18/2022
10.3	Transaction Bonus Agreement, by and among P3 Health Partners Inc., P3 Health Group Management, LLC and Dr. Sherif Abdou.	8-K	001-40033	10.3	5/18/2022

10.4	Transaction Bonus Agreement, by and among P3 Health Partners Inc., P3. Health Group Management, LLC and Dr. Amir Bacchus.	8-K	001-40033	10.4	5/18/2022
31.1	Certification of Principal Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					*
31.2	Certification of Principal Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.					*
32.1	Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					**
32.2	Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.					**
101.INS	Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.					*
101.SCH	Inline XBRL Taxonomy Extension Scheme Document					*
101.CAL	Inline XBEL Taxonomy Extension Calculation Linkbase Document					*
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document					*
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document					*
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document					*
104	Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101)					*


*	Filed herewith.
**	Furnished herewith.

Date: October 20, 2022	P3 Health Partners Inc.

	By:	/s/ Eric A. Atkins
		Eric A. Atkins
		Chief Financial Officer
		(Principal Financial Officer and Principal Accounting Officer)


Date: October 20, 2022		/s/ Sherif W. Abdou, M.D.
		Sherif W. Abdou, M.D.
		Chief Executive Officer
		(Principal Executive Officer)