ELMSFORD, N.Y.,
July 28, 2015
/PRNewswire/ -- BioScrip, Inc. (NASDAQ: BIOS)
("BioScrip") today announced the expiration of the subscription
period for its previously announced rights offering of subscription
rights to purchase units consisting of (1) Series A convertible
preferred stock, (2) Class A warrants, each to purchase one share
of common stock at a price of $5.17
per share, and (3) Class B warrants, each to purchase one share of
common stock at a price of $6.45 per
share.
The subscription period expired at 5:00
p.m., New York City time, on July
27, 2015. Based on results received from American
Stock Transfer & Trust Company, LLC ("AST"), the subscription
agent for the rights offering, stockholders exercised subscription
rights to purchase 10,822 units, consisting of 10,822 shares of the
Series A convertible preferred stock, 31,025 Class A warrants, and
31,025 Class B warrants, at a subscription price of $100.00 per unit. BioScrip estimates that
it will receive approximately $1,082,200 in aggregate gross proceeds from the
consummation of the rights offering.
Rights that were not properly exercised by 5:00 p.m., New York
City time, on July 27, 2015,
have expired and are no longer exercisable. The shares of
Series A convertible preferred stock, Class A and Class B warrants
will be distributed by AST by way of direct registration in
book-entry form or through the facilities of The Depository Trust
Company, as applicable, on or about July 31,
2015.
This press release shall not constitute an offer to sell
or a solicitation of an offer to buy any securities.
About BioScrip, Inc.
BioScrip, Inc. is a leading national provider of infusion and
home care management solutions. BioScrip partners with physicians,
hospital systems, skilled nursing facilities, healthcare payors,
and pharmaceutical manufacturers to provide patients access to
post-acute care services. BioScrip operates with a commitment to
bring customer-focused pharmacy and related healthcare infusion
therapy services into the home or alternate-site setting. By
collaborating with the full spectrum of healthcare professionals
and the patient, BioScrip provides cost-effective care that is
driven by clinical excellence, customer service, and values that
promote positive outcomes and an enhanced quality of life for those
it serves. BioScrip provides its infusion services from over 70
locations across 28 states.
Forward-Looking Statements – Safe Harbor
This press
release includes statements that may constitute "forward-looking
statements," including projections of certain measures of the
Company's results of operations, projections of certain charges and
expenses, and other statements regarding the Company's goals,
regulatory approvals and strategy. These statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You can identify these statements by
the fact that they do not relate strictly to historical or current
facts. In some cases, forward-looking statements can be identified
by words such as "may," "should," "could," "anticipate,"
"estimate," "expect," "project," "outlook," "aim," "intend,"
"plan," "believe," "predict," "potential," "continue" or comparable
terms. Because such statements inherently involve risks and
uncertainties, actual future results may differ materially from
those expressed or implied by such forward-looking statements.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those in the forward-looking statements as a result of various
factors. Important factors that could cause or contribute to such
differences include but are not limited to risks associated with:
the Company's ability to grow its Infusion Services segment
organically or through acquisitions and obtain financing in
connection therewith; its ability to reduce operating costs while
sustaining growth; reductions in federal, state and commercial
reimbursement for the Company's products and services; increased
government regulation related to the health care and insurance
industries; as well as the risks described in the Company's
periodic filings with the Securities and Exchange Commission. The
Company does not undertake any duty to update these forward-looking
statements after the date hereof, even though the Company's
situation may change in the future. All of the forward-looking
statements herein are qualified by these cautionary statements.
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SOURCE BioScrip, Inc.