Item 3.02 Unregistered Sales ofEquity Securities . As previously disclosed, onAugust 31, 2017 ,Surgery Partners, Inc. (the "Company") completed the sale and issuance of 310,000 shares of preferred stock, par value$0.01 per share, of the Company, designated as 10.00% Series A Convertible Perpetual Participating Preferred Stock (the "Series A Preferred Stock") toBCPE Seminole Holdings LP ("BCPE"), an affiliate ofBain Capital Private Equity , at a purchase price of$1,000.00 per share in cash. Pursuant to the Certificate of Designations, Preferences, Rights and Limitations of 10.00% Series A Convertible Perpetual Participating Preferred Stock ofSurgery Partners, Inc. (the "Certificate of Designation"), the Company may require the conversion of all, but not less than all, of the Series A Preferred Stock pursuant to the terms and conditions of the Certificate of Designation, after the second anniversary of the date of issuance, if the volume weighted average closing price of the Common Stock for any twenty out of thirty consecutive trading days prior to such date, equals or exceeds$42.00 per share (the "Company's Optional Conversion Right"). OnApril 16, 2021 , the Company notified BCPE that the Company's Optional Conversion Right had been triggered, and that all outstanding shares of Series A Preferred Stock would convert as ofMay 17, 2021 . OnMay 17, 2021 , the Company issued 22,608,925 shares of its common stock,$0.01 par value per share (the "Common Stock") to BCPE, as a result of the conversion of all outstanding shares of the Company's Series A Preferred Stock at a conversion price of$19.00 per share. As a result of such conversion, the Company currently has no shares of Series A Preferred Stock issued or outstanding. The shares of Common Stock issued upon the conversion of the Series A Preferred Stock were issued in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act") provided by Section 4(a)(2) of the Securities Act.
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