HCA Announces Pricing of its Initial Public Offering
09 March 2011
HCA Holdings, Inc. ("HCA") announced today the pricing of its initial public offering of 126,200,000 shares of common stock at a price of $30.00 per share. The shares are expected to begin trading on the New York Stock Exchange on March 10, 2011 under the ticker symbol "HCA," and the offering is expected to close on March 15, 2011.
Of the shares of common stock to be sold in the offering, HCA is offering 87,719,300 shares and the selling stockholders are offering 38,480,700 shares. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 18,930,000 shares from the selling stockholders.
HCA expects to use the net proceeds from the offering to repay certain of its existing indebtedness, as will be determined following completion of the offering, and for general corporate purposes. Pending such application, HCA intends to use the net proceeds to temporarily reduce amounts under its asset-based revolving credit facility and its senior secured revolving credit facility. HCA will not receive any of the proceeds from the sale of shares of common stock by the selling stockholders.
BofA Merrill Lynch, Citi and J.P. Morgan are acting as representatives of the several underwriters in the offering.
A registration statement relating to the shares of the common stock of HCA has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the 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 state or jurisdiction.
The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from BofA Merrill Lynch at 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, email: firstname.lastname@example.org; Citi at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone: (800) 831-9146, email: email@example.com; and J.P. Morgan c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866)-803-9204. The final prospectus, when it is available, also may be obtained on the Securities and Exchange Commission's Web site at http://www.sec.gov.
FORWARD LOOKING STATEMENTS
Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this press release and HCA assumes no obligation to update the information included in this press release. Such forward-looking statements include statements regarding the closing of the offering, the anticipated issuance of shares of HCA common stock and the expected use of proceeds from the offering. These statements often include words such as "approximate," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about HCA’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond HCA’s control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance or occurrence of events and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Although HCA believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, HCA also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this press release.