WARSAW, Ind., Feb. 4, 2016 /PRNewswire/ -- Zimmer Biomet
Holdings, Inc. (NYSE and SIX: ZBH) today announced that certain of
its stockholders, consisting of affiliates of Blackstone and
Goldman Sachs, intend to offer for sale in an underwritten
secondary offering 11,027,558 shares of the common stock of Zimmer
Biomet Holdings, Inc. ("Zimmer Biomet"). The selling
stockholders will receive all of the proceeds of the offering.
Neither Zimmer Biomet nor any of its directors, officers or
other stockholders is offering shares of common stock in the
offering.
Subject to the completion of the offering, Zimmer Biomet intends
to purchase from the underwriter $250
million of the shares of common stock being sold by the
selling stockholders at a price per share equal to the per share
purchase price payable by the underwriter to the selling
stockholders. These repurchased shares will no longer be
outstanding following completion of the offering. Zimmer
Biomet intends to fund the repurchase with cash on hand. This
share repurchase would be in addition to approximately $165 million of shares that Zimmer Biomet has
already purchased during 2016 as part of its share repurchase
program.
As part of the offering, Zimmer Biomet and each of its directors
and executive officers, and certain of its stockholders affiliated
with KKR, Blackstone, Goldman Sachs and TPG will enter into lock-up
agreements with respect to the sale of shares of common stock of
Zimmer Biomet for a 60-day period following the offering, subject
to customary exceptions.
Barclays Capital Inc. is acting as the sole underwriter for the
offering.
Zimmer Biomet has filed a registration statement (including a
base prospectus) with the U.S. Securities and Exchange Commission
(the "SEC") for the offering to which this communication relates.
Before you invest, you should read the preliminary prospectus
supplement and final prospectus supplement, when available, and the
accompanying base prospectus in that registration statement and
other documents Zimmer Biomet has filed with the SEC for more
complete information about Zimmer Biomet and this offering.
You may obtain these documents for free by visiting EDGAR on
the SEC's website at www.sec.gov. Alternatively, copies of
the preliminary prospectus supplement and final prospectus
supplement, when available, and the accompanying base prospectus
relating to the offering may be obtained from Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Email:
Barclaysprospectus@broadridge.com, Telephone: (888) 603-5847.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor will 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 Zimmer Biomet
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global
leader in musculoskeletal healthcare. We design, manufacture
and market orthopaedic reconstructive products; sports medicine,
biologics, extremities and trauma products; spine, bone healing,
craniomaxillofacial and thoracic products; dental implants; and
related surgical products.
Zimmer Biomet collaborates with healthcare professionals around
the globe to advance the pace of innovation. Its products and
solutions help treat patients suffering from disorders of, or
injuries to, bones, joints or supporting soft tissues.
Together with healthcare professionals, Zimmer Biomet helps
millions of people live better lives.
Zimmer Biomet has operations in more than 25 countries around
the world and sells products in more than 100 countries.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 regarding the underwritten secondary
offering of shares of Zimmer Biomet's common stock, including
Zimmer Biomet's concurrent share repurchase. Forward-looking
statements may be identified by the use of forward-looking terms
such as "may," "will," "expects," "believes," "anticipates,"
"plans," "estimates," "projects," "assumes," "guides," "targets,"
"forecasts," and "seeks" or the negatives of such terms or other
variations on such terms or comparable terminology. Such
statements are based upon the current beliefs and expectations of
management and are subject to significant risks and uncertainties
that could cause actual outcomes and results to differ materially,
including (a) any decision by the selling stockholders or the
underwriter not to proceed with the secondary offering and (b)
market conditions making the secondary offering unattractive to
potential purchasers of the offered shares of common stock.
For a list and description of some of such risks and uncertainties,
see our periodic reports filed with the SEC. These factors
should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in Zimmer Biomet's filings with the SEC. We disclaim any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be set forth in our periodic
reports. Accordingly, such forward-looking statements speak
only as of the date made. Readers of this communication are
cautioned not to place undue reliance on these forward-looking
statements, since, while management believes the assumptions on
which the forward-looking statements are based are reasonable,
there can be no assurance that these forward-looking statements
will prove to be accurate. This cautionary statement is
applicable to all forward-looking statements contained in this
communication.
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SOURCE Zimmer Biomet Holdings, Inc.