Centene Corporation Announces Pricing of Follow-On Public Offering
January 22 2010 - 7:00AM
PR Newswire (US)
ST. LOUIS, Jan. 22 /PRNewswire-FirstCall/ -- Centene Corporation
(NYSE: CNC) today announced the pricing of its previously announced
follow-on public offering of 5,000,000 shares of its common stock
at a public offering price of $19.25 per share. The Company has
granted the underwriters a 30-day option to purchase up to an
additional 750,000 shares at the public offering price to cover any
over-allotments. The offering is scheduled to close on January 27,
2010. 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. The shares are being offered 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 are the co-managers of the offering. The
offering is being conducted pursuant to an effective registration
statement filed on January 19, 2010 with the Securities and
Exchange Commission. 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 prospectus supplement only. Copies of the
prospectus and the related prospectus supplement, when available,
can be obtained from BofA Merrill Lynch, 4 World Financial Center,
New York, NY 10080, Attn: 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 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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