This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SXC Health Solutions Announces Pricing Of Upsized Public Offering Of Common Shares

LISLE, IL, May 10, 2012 /PRNewswire/ - SXC Health Solutions Corp. ("SXC") (NASDAQ: SXCI, TSX: SXC) announced today the pricing of its previously announced public offering of common shares.  Under the offering, SXC will sell 5,200,000 of its common shares at a price to the public of $90.60 per share.  The offering was increased from the previously announced offering size of 4,340,000 common shares.  In connection with the offering, SXC has granted the underwriters a 30-day option to purchase up to an additional 780,000 of its common shares at the public offering price to cover over-allotments, if any.  The offering is expected to close on May 16, 2012, subject to customary closing conditions.

SXC expects to receive net proceeds from the offering of approximately $450.8 million (or approximately $518.6 million if the underwriters exercise their over-allotment option in full), after deducting the underwriting discounts and commissions and estimated offering expenses. SXC intends to use the net proceeds from the offering to pay a portion of the cash component of the merger consideration for the previously announced proposed merger with Catalyst Health Solutions, Inc. and to pay certain related fees and expenses, or for general corporate purposes. If the proposed merger is not completed, SXC expects to use the net proceeds from the offering for general corporate purposes.

The offering is being conducted as a public offering pursuant to an effective shelf registration statement under the Securities Act of 1933.  J.P. Morgan Securities LLC, Barclays Capital Inc. and Credit Suisse Securities ( USA) LLC are acting as the joint book-running managers for the offering. Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are acting as the joint lead managers for the offering, and William Blair & Company, L.L.C., JMP Securities LLC, Houlihan Lokey Capital, Inc., SunTrust Robinson Humphrey, Inc., TD Securities ( USA) LLC and Versant Partners Inc. are acting as co-managers for the offering.

Information about the offering is available in the prospectus supplement to be filed with the Securities and Exchange Commission ("SEC").  A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone: (866) 803-9204; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (888) 603-5847 or by email at barclaysprospectus@broadridge.com.

The offering of these securities is being made solely by means of a prospectus supplement and the accompanying prospectus.  This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs