NEW YORK (Reuters) - LifeStance Health Group Inc, the U.S. outpatient mental health company backed by an affiliate of buyout firm TPG, said on Wednesday it sold shares in its initial public offering above a targeted range to raise $590.4 million. LifeStance sold 32.8 million shares at $18 apiece, above an earlier target range of $15 to $17 each, giving it a market capitalization of $6.73 billion. TPG had acquired a majority interest in the company in May 2020 at a total enterprise value of $1.2 billion, after which Summit Partners and Silversmith Capital Partners continued to hold a minority interest. Of the shares sold, 32.8 million were by LifeStance and around 7.2 million by current investors. LifeStance’s listing plan comes as health experts increasingly flag concerns around evidence of higher risks of brain and mental health disorders among COVID-19 survivors. Founded in 2017, the therapy provider provides behavioral healthcare services to children, adolescents and adults for a variety of mental health issues. LifeStance employs more than 3,300 licensed mental health clinicians who provide care through an online delivery platform or at in-person centers. The Scottsdale, Arizona-based company incurred a net loss of $8.7 million on revenue of $143.1 million for the three months ended March 31, its filing showed. Shares are due to begin trading on the Nasdaq on Thursday under the symbol “LFST”. Morgan Stanley, Goldman Sachs, J.P. Morgan and Jefferies are the lead underwriters for the offering. Reporting by Echo Wang in Asheville; additional reporting by Kanishka Singh; Editing by Ramakrishnan M. Our Standards: The Thomson Reuters Trust Principles.