Select Medical Holdings Corporation Announces Exercise of Underwriters' Option
to Purchase Additional Shares
MECHANICSBURG, Pa., Oct. 23 /PRNewswire-FirstCall/ -- Select Medical Holdings
Corporation ("Select") (NYSE: SEM), the parent of Select Medical Corporation,
today announced that it had received notice of the exercise of the
underwriters' over-allotment option to purchase an additional 3,602,700 shares
of Select's common stock at a price per share of $10.00, which is expected to
close on October 28, 2009, subject to customary closing conditions. The
over-allotment option was granted in connection with Select's initial public
offering of 30,000,000 shares, which closed on September 30, 2009.
Total additional net proceeds to Select from the exercise of the
over-allotment option are expected to be approximately $33.9 million. Select
intends to use the net proceeds from the exercise of the over-allotment option
to repay indebtedness. Any remaining net proceeds will be used for general
corporate purposes.
Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, BofA Merrill Lynch
and J.P. Morgan Securities Inc. acted as joint book-runners for the offering.
A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission. A copy of the final
prospectus related to the offering may be obtained from Goldman, Sachs & Co.,
Attention: Prospectus Department, 85 Broad St., New York, NY 10004 or by
faxing (212) 902-9316 or calling toll-free 1-866-471-2526 or emailing at
prospectus - ny@ny.email.gs.com; or Morgan Stanley & Co. Incorporated,
Attention: Prospectus Department, 180 Varick Street, New York, New York 10014
(email address: prospectus@morganstanley.com); or BofA Merrill Lynch, 4 World
Financial Center, New York, NY 10080, Attention: Prospectus Department; or
J.P. Morgan Securities Inc., Attention: Prospectus Department, 4 Chase
Metrotech Center, CS Level, Brooklyn, NY 11245, or by calling (718) 242-8002.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy, 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. The offering is being made solely by means of a
prospectus.
About Select
Select is a leading operator of specialty hospitals in the United States. As
of September 30, 2009, Select operated 89 long term acute care hospitals and
five acute medical rehabilitation hospitals in 25 states, and 947 outpatient
rehabilitation clinics in 37 states and the District of Columbia. Select also
provides medical rehabilitation services on a contracted basis to nursing
homes, hospitals, assisted living and senior care centers, schools and work
sites. Information about Select is available at
http://www.selectmedicalcorp.com
SOURCE Select Medical Holdings Corporation
Investor inquiries, Joel T. Veit, Vice President and Treasurer,
+1-717-972-1100
