BioScrip Prices Underwritten Offering of Common Stock
June 16 2016 - 10:20PM
BioScrip, Inc. (NASDAQ:BIOS) (the “Company” or “BioScrip”) today
announced the pricing of an underwritten offering of 40,000,000
shares of its common stock (the “Offering”) at a price to the
public of $2.00 per share (the “Offering Price”). Jefferies LLC is
acting as the lead joint book-running manager and SunTrust Robinson
Humphrey, Inc. is acting as a passive book-running manager.
Craig-Hallum Capital Group LLC is acting as a co-manager. The
Company has granted the underwriters an option for a period of 30
days to purchase up to an additional 5,200,000 shares of the
Company’s common stock at the Offering Price. The Company
expects to receive approximately $73.38 million in net proceeds
from the offering after deducting underwriting discounts and
commissions and other offering expenses payable by the Company,
assuming no exercise by the underwriters of their option to
purchase additional shares, or approximately $83.15 million if the
underwriters exercise their option to purchase additional shares in
full.
The Offering is being made pursuant to a
registration statement previously filed and declared effective by
the Securities and Exchange Commission (the “SEC”). A
preliminary prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and are
available on the SEC's website at http://www.sec.gov. Copies of the
final prospectus supplement and accompanying prospectus relating to
this offering, when available, may be obtained from: Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 12th Floor, New York, New York, 10022, Telephone:
877-547-6340, Email: Prospectus_Department@Jefferies.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
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.
Forward-Looking Statements – Safe Harbor
This press release includes statements that may
constitute “forward-looking statements," that involve substantial
risks and uncertainties. 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," "intend," "plan," "believe,"
"predict," "potential," "continue" or comparable terms.
These forward-looking statements include, among others,
statements about the Company’s expectations with respect to the
proposed offering, including its intention to offer and sell shares
and its intended use of proceeds from the Offering. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results to
be materially different from any results expressed or implied by
such forward-looking statements. For example, there are risks
associated with market conditions, the underwriters fulfilling its
obligations to purchase the shares in the Offering and the
Company’s ability to satisfy certain conditions precedent to the
closing of the Offering; as well as the risks described in the
prospectus supplement and the Company's periodic filings with the
Securities and Exchange Commission, including, but not limited to,
the Company’s annual report on Form 10-K for the year ended
December 31, 2015. 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.
For Further Information:
Investor Contact
Jeffrey M. Kreger
BioScrip Chief Financial Officer
(720) 697-5200
jeffrey.kreger@bioscrip.com
Media Contact
Susan J. Lewis
(303) 766-4343 or (303) 518-7100
slewis@pairelations.com
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