Centene Corporation Announces Follow-on Public Offering
January 19 2010 - 7:46AM
PR Newswire (US)
ST. LOUIS, Jan. 19 /PRNewswire-FirstCall/ -- Centene Corporation
(NYSE: CNC) today announced that it has commenced a follow-on
public offering of 5,000,000 shares of its common stock through
underwriters led by BofA Merrill Lynch, Goldman, Sachs & Co.,
J. P. Morgan Securities Inc., and Credit Suisse Securities (USA)
LLC. Barclays Capital Inc., Allen & Company LLC, and Stifel,
Nicolaus & Company, Incorporated will be the co-managers of the
offering. The offering is being conducted pursuant to a
registration statement filed today with the Securities and Exchange
Commission. In addition, Centene proposes to grant to the
underwriters an option to purchase up to 750,000 shares to cover
any overallotments. Centene intends to use the net proceeds of the
offering to repay the outstanding indebtedness under its
$300,000,000 revolving credit facility and for general corporate
purposes, which may include acquisitions, capital expenditures and
additions to working capital. 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.
Copies of the prospectus and the related preliminary prospectus
supplement can be obtained from BofA Merrill Lynch, 4 World
Financial Center, New York, NY 10080, Attn: Preliminary Prospectus
Department or by e-mail at ; Goldman, Sachs & Co., 85 Broad
Street, New York, New York 10004, Attention: Prospectus Department,
Toll-Free 1-866-471-2526, or by e-mail at ; J.P. Morgan Securities
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by calling 1-866-803-9204; and Credit
Suisse Securities (USA) LLC, Attention: Prospectus Department, One
Madison Avenue, New York, New York 10010, or via telephone at
1-800-221-1037. About Centene Corporation Centene Corporation is a
leading multi-line healthcare enterprise that provides programs and
related services to individuals receiving benefits under Medicaid,
including the Children's Health Insurance Program (CHIP), as well
as Aged, Blind, or Disabled (ABD), Foster Care, Long-Term Care and
Medicare (Special Needs Plans). The Company operates local health
plans and offers a wide range of health insurance solutions to
individuals and the rising number of uninsured Americans. It also
contracts with other healthcare and commercial organizations to
provide specialty services including behavioral health, life and
health management, managed vision, telehealth services, pharmacy
benefits management and medication adherence. The information
provided in this press release contains forward-looking statements
that relate to the proposed public offering of common stock,
including without limitation, statements regarding the completion
of the offering and the use of proceeds. Actual events or results
may differ materially from those contained in the forward-looking
statements. The Company's reports to the SEC contain additional
information relating to additional factors that could cause actual
results to differ from these forward-looking statements. The
Company disclaims any obligation to update this forward-looking
financial information in the future. DATASOURCE: Centene
Corporation CONTACT: Edmund E. Kroll, Senior Vice President,
Finance and Investor Relations, of Centene Corporation,
+1-212-759-0382 Web Site: http://www.centene.com/
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