On September 8, 2026, P3 Health Partners entered into a Securities Purchase Agreement with affiliates of Chicago Pacific Founders (CPF) to issue up to $70 million in units. Each unit consists of Series D-1 19.5% Cumulative Preferred Stock and warrants exercisable for Class A Common Stock at the Nasdaq Minimum Price, with a seven-year term. The preferred stock carries no voting or conversion rights and ranks senior to common equity. Concurrently, P3 Health Partners executed a Fourth Amended and Restated Letter Agreement granting CPF board designation rights if it holds 40% of outstanding common stock and extending its standstill restriction through December 31, 2027. This financing provides capital while adjusting governance dynamics with a key investor group. The company operates in the healthcare sector, specifically providing medical services and facilities management.