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SXC Health Solutions Announces Closing Of Public Offering Of Common Shares And Exercise Of Underwriters' Over-Allotment Option

Stocks in this article: SXC SXCI

LISLE, IL, May 16, 2012 /PRNewswire/ - SXC Health Solutions Corp. ("SXC") (NASDAQ: SXCI, TSX: SXC) announced today that it successfully completed its previously announced public offering of 5,980,000 of its common shares at a price to the public of $90.60 per share, which includes 780,000 shares sold pursuant to the exercise of the underwriters' over-allotment option.

The net proceeds to SXC from the offering are approximately $518.6 million, 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 was 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 acted as the joint book-running managers for the offering. Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC acted 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. acted as co-managers for the offering.

Information about the offering is available in the prospectus supplement filed with the Securities and Exchange Commission ("SEC") on May 11, 2012.  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 was 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.

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