Centene Announces Pricing Of Public Offering By Selling Stockholder
ST. LOUIS, Jan. 27, 2014 /PRNewswire/ -- Centene Corporation (NYSE: CNC) today announced the pricing of a previously announced underwritten public offering of 800,000 shares of its common stock by one of its existing stockholders, such shares having been originally issued in accordance with the terms of Centene's acquisition of U.S. Medical Management, LLC, including selling arrangements. The shares will be offered at a price to the public of $59.80 per share. Centene will not receive any proceeds from the sale of shares by the selling stockholder in the offering, and its total number of shares outstanding will not change as a result of the offering. The offering is expected to close on or about January 31, 2014, subject to customary closing conditions.
Barclays Capital Inc. is acting as sole underwriter in this offering.
A registration statement relating to the shares described above was previously filed with and has become effective by rule of the Securities and Exchange Commission ("SEC"). A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and related prospectus, when available, may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 1-888-603-5847, or by email at Barclaysprospectus@broadridge.com. 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, the shares in any state or other jurisdiction which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading multi-line healthcare enterprise that provides programs and related services to the rising number of under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children's Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-term Care (LTC), in addition to other state-sponsored/hybrid programs, and Medicare (Special Needs Plans). The Company operates local health plans and offers a range of health insurance solutions. It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, care management software, correctional systems healthcare, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy and telehealth services.
This press release contains forward-looking statements, including, without limitation, the closing of the offering and risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering. Additional risks and uncertainties relating to Centene Corporation and its business can be found under the caption "Risk Factors" and elsewhere in Centene Corporation's Securities and Exchange Commission filings and reports, including in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013. Forward-looking statements speak only as of the date of this release and are based on information available at the time those statements are made, as well as management's views and assumptions regarding future events. You should not put undue reliance on any forward-looking statements. Centene does not undertake to update its forward-looking statements, except as required by law.
SOURCE Centene Corporation