Performant Financial Corp. filed a prospectus allowing ECMC Group Inc. and Parthenon DCS Holdings LLC to sell up to 15,432,542 common shares from time to time.

The proposed maximum aggregate offering price for the offering is $12.8 million, estimated solely for the purpose of calculating the registration fee for the secondary offering. The company will not receive any proceeds from the sale. A portion of the shares covered by the filing are issuable upon the exercise of warrants to purchase up to 1,931,664 shares.

If any of the warrants are exercised for cash, the company would be paid an exercise price of $1.92 per share. The company plans to use the warrant exercise proceeds principally for working capital and general corporate purposes. If the warrants are exercised on a cashless basis, the company would not receive any cash payment when the warrants are exercised.