R1 RCM Announces Pricing of Secondary Offering of 15,000,000 Shares by Selling Stockholders
R1 RCM announced a secondary offering of 15 million shares priced at $22.50 each by existing stockholders, including TCP-ASC and CEO Joseph Flanagan. The offering is set to close on June 1, 2021, pending customary conditions. R1 RCM will not benefit from the proceeds, which are going to the selling stockholders. An additional option for underwriters to buy 2.25 million shares exists. The offering is being conducted under an effective shelf registration statement filed with the SEC.
- The offering allows existing stockholders to liquidate equity, which may enhance liquidity.
- Underwriters are reputable financial institutions, which may ensure the offering is well-supported.
- R1 RCM will not receive any proceeds from the offering, which could suggest limited capital for operational needs.
CHICAGO, May 26, 2021 (GLOBE NEWSWIRE) -- R1 RCM Inc. (“R1 RCM” or the “Company”) (NASDAQ: RCM) announced that it has priced the underwritten offering of 15,000,000 shares of its common stock by selling stockholders at a price to the public of
Barclays, J.P. Morgan, Morgan Stanley, BofA Securities and Deutsche Bank Securities are serving as active bookrunners for this offering. This offering is being made only by means of a prospectus supplement and related prospectus, copies of which may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 888-603-5847, email: barclaysprospectus@broadridge.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 888-803-9204, email: prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at prospectus@morganstanley.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255, Attention: Prospectus Department, email: dg.prospectus_requests@bofa.com; or Deutsche Bank Securities, Inc., 60 Wall Street, New York, NY 10005, Attention: Prospectus Department, telephone: 800-503-4611 or by email at: prospectus.cdpg@db.com.
This offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on May 25, 2021. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or 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.
About R1 RCM
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience. To learn more, visit: r1rcm.com.
Forward Looking Statements
Certain of the statements made in this press release are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the size and terms of the proposed secondary offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to the satisfaction of customary closing conditions related to the offering and the impact of general economic, industry or political conditions in the United States or internationally. There can be no assurance that R1 RCM will be able to complete the offering on the anticipated terms, or at all. You should not place undue reliance on these forward-looking statements as predictions of future events, which statements apply only as of the date of this press release. Additional risks and uncertainties relating to the offering, R1 RCM and its business can be found under the heading “Risk Factors” in R1 RCM’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission. Forward-looking statements represent R1 RCM’s beliefs and assumptions only as of the date of this press release. R1 RCM expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based, except as may be required under applicable law.
| Contacts: |
| R1 RCM Investor Relations Atif Rahim 312.324.5476 investorrelations@r1rcm.com Media Relations Natalie Bennett 678.585.1206 media@r1rcm.com |
FAQ
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