MANHATTAN BEACH, Calif., March 29, 2016 /PRNewswire/ -- On March 11, 2016, Vantage Oncology, LLC (the "Company") and Vantage Oncology Finance Co. (together with the Company, the "Issuers") commenced a tender offer (the "Offer") and a consent solicitation (the "Consent Solicitation") with respect to all of the Issuers' $300.0 million of outstanding 9.500% Senior Secured Notes due 2017 (the "Notes"), pursuant to the Offer to Purchase and Consent Solicitation Statement dated March 11, 2016 (the "Offer to Purchase").
As of 5:00 p.m., New York City time, on March 28, 2016, holders of $215,714,000 aggregate principal amount of Notes (representing approximately 72% of the outstanding Notes) (the "Early Tendered Notes") had tendered their Notes into the Offer and given their consents to the "Proposed Amendments" (as defined in the Offer to Purchase) in the Consent Solicitation. As a result, the Requisite Consents (as defined in the Offer to Purchase) for the elimination of substantially all of the restrictive covenants (and certain events of default) in the Indenture governing the Notes and the release of all of the collateral securing the Notes have been received. The Issuers expect to enter into the Supplemental Indenture (as defined in the Offer to Purchase) relating to such amendments and such release of collateral promptly.
The Issuers expect to accept for payment and settle the Early Tendered Notes on April 1, 2016, which is the expected completion date for the acquisition of Vantage Oncology Holdings, LLC, the Issuers' parent, by McKesson Corporation pursuant to the previously announced acquisition agreement.
Wells Fargo Bank, National Association is acting as Tender Agent for the Offer and can be contacted at (800) 344-5128, option 0. Copies of the Offer Documents and other related documents may be obtained from the Company by contacting (310) 335-4000.
No recommendation is made as to whether Holders of the Notes should tender their Notes or give their consent. Holders of Notes must make their own decisions as to whether to tender their Notes, and if they decide to do so, the principal amount of the Notes to tender. Holders of the Notes should read carefully the Offer Documents and related materials before any decision is made with respect to the Offer.
This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell any securities, nor shall there be any purchase of Notes in any state or jurisdiction in which such offer, solicitation or purchase would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Offer is being made only through, and subject to the terms and conditions set forth in, the Offer Documents and related materials.
Founded in October 2002, Manhattan Beach, California-based Vantage Oncology, LLC is a leading national provider of radiation oncology, medical oncology and other value-based integrated cancer care services. The company's founding principles were to address the growing need among cancer patients, hospitals and physicians for accessible and advanced cancer treatments. Vantage currently operates over 50 treatment facilities in 13 states. For more information about Vantage, visit www.vantageoncology.com.
Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to us as of the date of the release, and we assume no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to "Risk Factors" and "Cautionary Statements Regarding Forward-Looking Statements" in the Issuers' Annual Report for the fiscal year ended December 31, 2014.
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SOURCE Vantage Oncology, LLC