Molina Healthcare Announces Common Stock Offering
June 01 2015 - 6:40AM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today
announced that it has commenced an underwritten public offering of
5,000,000 shares of its common stock. In connection with the
offering, the Company intends to grant the underwriters a 30-day
option to purchase up to 750,000 additional shares of common stock.
The Company’s common stock is listed on the New York Stock Exchange
under the symbol “MOH.” The offering is being conducted pursuant to
an effective registration statement filed with the Securities and
Exchange Commission (the “SEC”) on May 29, 2015.
The Company intends to use the net proceeds of the offering for
general corporate purposes, which may include the repayment of
indebtedness, funding for acquisitions such as our recently
announced expansion in the State of Michigan, capital expenditures,
additions to working capital and to meet statutory capital
requirements in new or existing states.
UBS Securities LLC, BofA Merrill Lynch and Wells Fargo
Securities, LLC are acting as lead book-running managers for the
offering. SunTrust Robinson Humphrey, Inc. is acting as a joint
book-running manager of the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The offering is being made by means of a prospectus and the related
preliminary prospectus supplement only. Before investing, investors
should read the prospectus in the registration statement, the
related prospectus supplement and other documents the Company has
filed with the SEC for more complete information about the Company
and the offering. Copies of the prospectus and the related
preliminary prospectus supplement can be obtained from UBS
Securities LLC, Attn: Prospectus Dept., 1285 Avenue of the
Americas, New York, NY 10019, tel.: (888) 827-7275; BofA Merrill
Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or via email at dg.prospectus_requests@baml.com; Wells
Fargo Securities, LLC, Attention: Equity Syndicate Department, 375
Park Avenue, New York, NY, 10152, via telephone at 800-326-5897 or
email at cmclientsupport@wellsfargo.com. A preliminary prospectus
supplement related to the offering will also be available free of
charge on the SEC’s website at www.sec.gov.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed
health care services under the Medicaid and Medicare programs and
through the state insurance marketplaces. Through our locally
operated health plans in 11 states across the nation, Molina
currently serves over 3 million members. Dr. C. David Molina
founded our company in 1980 as a provider organization serving
low-income families in Southern California. Today, we continue his
mission of providing high quality and cost-effective health care to
those who need it most.
Cautionary Statement under the Private Securities Litigation
Reform Act: This press release contains “forward-looking
statements” that are subject to risks and uncertainties that may
cause actual results to differ materially. A discussion of the risk
factors facing the Company can be found in its annual report on
Form 10-K for the year ended December 31, 2014, in its quarterly
report on Form 10-Q for the quarter ended March 31, 2015, in its
Form 8-K current reports, and in its other reports and filings with
the SEC. These reports can be accessed on the SEC’s website at
www.sec.gov. The Company undertakes no obligation to release any
revisions to any forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150601005770/en/
Molina Healthcare, Inc.Juan José Orellana, 562-435-3666, ext.
111143Investor Relations
Molina Healthcare (NYSE:MOH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Molina Healthcare (NYSE:MOH)
Historical Stock Chart
From Apr 2023 to Apr 2024