UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 19, 2014
KINDRED HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-14057 |
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61-1323993 |
(State or other jurisdiction of
incorporation or organization) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
680 South Fourth Street
Louisville, Kentucky
(Address of principal executive offices)
40202-2412
(Zip Code)
Registrants telephone number, including area code: (502) 596-7300
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Incorporated by reference is a press release issued by Kindred
Healthcare, Inc. on November 19, 2014, which is attached hereto as Exhibit 99.1.
Item 9.01. |
Financial Statements and Exhibits. |
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Exhibit 99.1 |
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Press Release dated November 19, 2014. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereto duly authorized.
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KINDRED HEALTHCARE, INC. |
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Date: November 20, 2014 |
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By: |
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/s/ Joseph L. Landenwich |
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Joseph L. Landenwich |
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Co-General Counsel and Corporate Secretary |
EXHIBIT 99.1
KINDRED HEALTHCARE PRICES PUBLIC OFFERINGS OF
COMMON STOCK AND TANGIBLE EQUITY UNITS
LOUISVILLE, Ky. (November 19, 2014) Kindred Healthcare, Inc. (Kindred or the Company) (NYSE:KND) today announced that it
has priced concurrent underwritten public offerings of 5,000,000 shares of Kindreds common stock and 150,000 tangible equity units. The common stock component was priced at a public offering price of $19.75 per share. Each tangible equity unit
has a stated amount of $1,000 and is comprised of a prepaid stock purchase contract and a share of mandatory redeemable preferred stock, each issued by the Company. Each stock purchase contract is scheduled to settle on December 1, 2017 for
between 43.0918 and 50.6329 shares of Kindreds common stock (subject to customary anti-dilution adjustments), based upon the applicable market value of Kindreds common stock. The mandatory redeemable preferred stock will have an initial
liquidation preference of $201.58 and will be entitled to quarterly preferred stock installment payments at an annual rate of 7.50%. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Guggenheim Securities, LLC and Morgan Stanley &
Co. LLC are acting as book-running managers for the concurrent offerings.
The Company granted the underwriters a 30-day over-allotment
option to purchase up to an additional 750,000 shares of Kindreds common stock and a 13-day over-allotment option to purchase up to an additional 22,500 tangible equity units.
Kindred intends to use the net proceeds from these offerings to fund the acquisition of Gentiva Health Services, Inc. (Gentiva)
and for general corporate purposes.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the
common stock, tangible equity units or any other security of Kindred, nor shall there be any sale of the common stock, tangible equity units or any other security of Kindred in any jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The offerings of common stock and
tangible equity units (including the component prepaid stock purchase contracts and the mandatory redeemable preferred stock) are separate public offerings made pursuant to separate prospectus supplements under Kindreds effective shelf
registration statement that has been filed with the Securities and Exchange Commission (the SEC). These offerings are not contingent on the completion of each other or upon the completion of the acquisition of Gentiva.
Preliminary prospectus supplements and the accompanying prospectus related to these offerings have been filed with the SEC and are available
on the SEC website, www.sec.gov. Copies of the preliminary prospectus supplements and the accompanying prospectus relating to these offerings may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, by phone at 800-831-9146 or by email at prospectus@citi.com, and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at
866.803.9204.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the Companys proposed
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680 South Fourth Street Louisville, Kentucky 40202
502.596.7300
www.kindredhealthcare.com
Kindred Healthcare Prices Public Offerings
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November 19, 2014
business combination transaction with Gentiva (including financing of the proposed transaction and the benefits, results, effects and timing of a transaction), all statements regarding the
Companys (and the Companys and Gentivas combined) expected future financial position, results of operations, cash flows, dividends, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth
opportunities, plans and objectives of management, and statements containing the words such as anticipate, approximate, believe, plan, estimate, expect, project,
could, would, should, will, intend, may, potential, upside, and other similar expressions. Statements in this press release concerning the business
outlook or future economic performance, anticipated profitability, revenues, expenses, dividends or other financial items, and product or services line growth of the Company (and the combined businesses of the Company and Gentiva), together with
other statements that are not historical facts, are forward-looking statements that are estimates reflecting the best judgment of the Company based upon currently available information.
Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results
may differ materially from the Companys expectations as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are based upon managements current expectations and include
known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Companys actual results, performance or plans with respect to Gentiva to differ materially from any future
results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks, uncertainties and other factors discussed below and detailed from time to time in the Companys filings with the SEC.
Risks and uncertainties related to the proposed merger include, but are not limited to, the risk that Gentivas stockholders do not
approve the merger, potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger, uncertainties as to the timing of the merger, adverse effects on the Companys stock price
resulting from the announcement or completion of the merger, competitive responses to the announcement or completion of the merger, the risk that healthcare regulatory, licensure or other approvals and financing required for the consummation of the
merger are not obtained or are obtained subject to terms and conditions that are not anticipated, costs and difficulties related to the integration of Gentivas businesses and operations with the Companys businesses and operations, the
inability to obtain, or delays in obtaining, cost savings and synergies from the merger, uncertainties as to whether the completion of the merger or any transaction will have the accretive effect on the Companys earnings or cash flows that it
expects, unexpected costs, liabilities, charges or expenses resulting from the merger, litigation relating to the merger, the inability to retain key personnel, and any changes in general economic and/or industry-specific conditions.
In addition to the factors set forth above, other factors that may affect the Companys plans, results or stock price are set forth in
the Companys Annual Report on Form 10-K and in its reports on Forms 10-Q and 8-K.
Many of these factors are beyond the
Companys control. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance. The Company disclaims any obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to reflect future events or developments.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-150 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville,
Kentucky with annual revenues of $5 billion and approximately 62,600 employees in 47 states. At September 30, 2014, Kindred through its subsidiaries provided healthcare services in 2,376 locations, including 97 transitional care hospitals, five
inpatient rehabilitation hospitals, 99 nursing centers, 22 sub-acute units, 152 Kindred at Home hospice, home health and non-medical home care
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November 19, 2014
locations, 102 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,899 non-affiliated facilities. Ranked as one of Fortune
magazines Most Admired Healthcare Companies for six years in a row, Kindreds mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we
serve.
Contacts
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Media Susan Moss
Senior Vice President, Marketing and Communications Kindred
Healthcare, Inc. 502-596-7296 or |
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Investors and Analysts Stephen
Farber Executive Vice President, Chief Financial Officer
Kindred Healthcare, Inc. 502-596-2525 |
Andrew Siegel / Nick Lamplough Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449 |
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