DEERFIELD, Ill., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Surgical Care Affiliates, Inc. ("SCA") today announced the closing of its initial public offering of 9,777,778 shares of its common stock, at a price to the public of $24.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 1,466,666 shares of common stock from certain of the selling stockholders. As a result, the total initial public offering size was 11,244,444 shares.
SCA expects to use the net proceeds from the shares offered by it to redeem all $150.0 million aggregate principal amount of Surgical Care Affiliates, LLC and Surgical Holdings, Inc.'s 10.0% Senior Subordinated Notes due 2017 and any remaining net proceeds for general corporate purposes.
The shares are listed on the NASDAQ Global Select Market and trade under the symbol "SCAI".
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., BofA Merrill Lynch, Barclays Capital Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. LLC served as the joint book-runners and BMO Capital Markets Corp., SunTrust Robinson Humphrey, Inc. and TPG Capital BD, LLC served as the co-managers for the offering.
A registration statement relating to these securities was declared effective as of October 29, 2013 by the Securities and Exchange Commission. The offering was made only by means of the written prospectus forming part of the effective registration statement. Copies of the final prospectus related to the offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or via telephone: (866) 803-9204 or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717 or via telephone: (800) 831-9146.
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 these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Surgical Care Affiliates
An industry leader, SCA partners with physicians, health systems and payors to develop and implement surgery strategies across the country. As of June 30, 2013, SCA operated 173 surgical facilities – including ambulatory surgery centers, surgical hospitals and one sleep center – in partnership with approximately 2,000 physician partners and in affiliation with 42 leading health systems across the country. SCA's clinical systems, service line growth strategies, benchmarking processes and efficiency programs create measurable advantages for surgical facilities – clinically, operationally and financially.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. Forward-looking statements convey SCA's current expectations or forecasts of future events. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause SCA's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the "Risk Factors" and "Special Note Regarding Forward-Looking Statements" sections of the registration statement on Form S-1. Unless required by law, SCA undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date of this press release.
Peter Clemens Executive Vice President and Chief Financial Officer (205) 307-5250 Leslie Wachsman Vice President, Financial Planning and Analysis (847) 267-9823
