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Webmd Health Corp completes private placement of $300 million aggregate principal amount of Notes-Form 8-K

Tuesday, 26 Nov 2013 10:14am EST 

Webmd Health Corp:Says on Nov. 26, the Registrant completed the private placement of $300 million aggregate principal amount of the Notes and entered into an Indenture, with respect to the Notes, with The Bank of New York Mellon Trust Company, N.A.Says net proceeds to the Registrant from the sale of the Notes are estimated to be approximately $291.5 million, after the initial purchaser’s discount and estimated expenses.Says the Registrant intends to use the net proceeds for general corporate purposes, which may include acquisitions, repurchases of its common stock, and working capital.Says the Notes will mature on Dec. 1, 2020, unless previously repurchased or converted in accordance with their terms prior to such date.Says Interest on the Notes is payable semiannually on June 1 and December 1 of each year, commencing on June 1, 2014.Says under the terms of the Notes, holders may surrender their Notes for conversion into Common Stock at an initial conversion rate of 18.9362 shares of Common Stock per $1,000 principal amount of Note.Says this is equivalent to an initial conversion price of approximately $52.81 per share of Common Stock.Says the initial conversion price represents a premium of approximately 36% over the closing price of the Common Stock on the Nasdaq Global Select Market on Nov. 20.Says In the aggregate, the Notes are initially convertible into 5,680,860 shares of Common Stock. 

Company Quote

0.48 +1.23%
26 Dec 2014