SAN DIEGO, Oct. 29, 2015 /PRNewswire/ -- MedImpact Holdings, Inc. ("MedImpact") announced today the expiration of its previously announced cash tender offer (the "Offer") for any and all of its outstanding 10.5% Senior Secured Notes due 2018 (the "Notes"). The Offer expired at 12:00 midnight, New York City time, at the end of October 28, 2015 (the "Expiration Time").
Pursuant to the Offer, on October 27, 2015, MedImpact purchased $389,000,000 aggregate principal amount of the Notes that were validly tendered and not validly withdrawn in the Offer prior to 5:00 p.m., New York City time, on October 14, 2015 (the "Early Tender Time"), representing approximately 99.74% of all of the outstanding Notes. Since the Early Tender Time and before the Expiration Time no additional Notes were validly tendered.
Following the expiration of the Offer, there are a total of $1,000,000 aggregate principal amount of Notes outstanding. In accordance with the indenture governing the Notes, MedImpact plans to issue an irrevocable notice of redemption with respect to all outstanding Notes that were not tendered in the Tender Offer. The redemption date is expected to be on or about November 30, 2015.
UBS Investment Bank acted as the dealer manager and solicitation agent, and D.F. King & Co., Inc. is the information agent and depositary, for the Offer.
This announcement is for information purposes only and does not constitute an offer to buy or the solicitation of an offer to sell securities. The Offer was made solely by means of the Offer to Purchase and the related Letter of Transmittal. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Offer was deemed to be made on behalf of MedImpact by the dealer manager or one or more registered brokers or dealers licensed under the laws of such jurisdiction.
This press release contains forward-looking statements. These forward-looking statements, including, but not limited to, statements about the redemption of outstanding Notes, are based on current expectations, estimates, forecasts and projections based on management's judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, we caution you not to place undue reliance on these statements. We undertake no obligation to make any revision to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release.
SOURCE MedImpact Holdings, Inc.