Molina Healthcare, Inc. (NYSE:MOH) (the “Company”) announced today the
pricing of its previously announced underwritten public offering by the
Company of 5,000,000 shares of its common stock at a public offering
price of $67.75 per share.
The Company intends to use the net proceeds of the offering for general
corporate purposes, which may include the repayment of indebtedness,
funding for acquisitions such as our recently announced expansion in the
State of Michigan, capital expenditures, additions to working capital
and to meet statutory capital requirements in new or existing states.
In connection with the offering, the Company has granted the
underwriters a 30-day option to purchase at the public offering price an
additional 750,000 shares to cover overallotments, if any.
UBS Securities LLC, BofA Merrill Lynch and Wells Fargo Securities, LLC
are acting as lead book-running managers for the offering. SunTrust
Robinson Humphrey, Inc. is acting as a joint book-running manager of the
offering.
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 these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering is being made by
means of a prospectus and the related prospectus supplement only. Before
investing, investors should read the prospectus in the registration
statement, the related prospectus supplement and other documents Molina
Healthcare has filed with the Securities and Exchange Commission (the
“SEC”) for more complete information about Molina Healthcare and the
offering. Copies of the prospectus and the related prospectus supplement
can be obtained from UBS Securities LLC, Attn: Prospectus Dept., 1285
Avenue of the Americas, New York, NY 10019, tel.: (888) 827-7275; BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or via email at dg.prospectus_requests@baml.com;
Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375
Park Avenue, New York, NY 10152, via telephone at 800-326-5897 or email
at cmclientsupport@wellsfargo.com.
A prospectus supplement related to the offering will also be available
free of charge on the SEC’s website at http://www.sec.gov.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health
care services under the Medicaid and Medicare programs and through the
state insurance marketplaces. Through our locally operated health plans
in 11 states across the nation, Molina currently serves over 3 million
members. Dr. C. David Molina founded our company in 1980 as a provider
organization serving low-income families in Southern California. Today,
we continue his mission of providing high quality and cost-effective
health care to those who need it most.
Cautionary Statement under the Private Securities Litigation
Reform Act: This press release contains “forward-looking statements”
that are subject to risks and uncertainties that may cause actual
results to differ materially. A discussion of the risk factors
facing the Company can be found in its annual report on Form 10-K for
the year ended December 31, 2014, in its quarterly report on Form 10-Q
for the quarter ended March 31, 2015, in its Form 8-K current reports,
and in its other reports and filings with the SEC. These reports
can be accessed on the SEC’s website at www.sec.gov.
The Company undertakes no obligation to release any revisions to any
forward-looking statements.
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