American HomePatient Announces Extension of Self-Tender Offer
August 04 2010 - 6:18PM
Business Wire
American HomePatient, Inc. (OTCBB: AHOM) (“American HomePatient”
or the “Company”), one of the nation’s largest home health care
providers, today announced that it is extending its previously
announced self-tender offer for all outstanding shares of common
stock of the Company at $0.67 per share, until 5:00 P.M., New York
City time, Wednesday, August 25, 2010. The tender offer was
previously set to expire at 5:00 P.M., New York City Time,
Wednesday, August 4, 2010, and the terms of the tender offer
contemplate that the tender offer may be extended in order to
satisfy the tender offer condition that the number of shares
tendered, when added to the number of shares owned by Highland
Capital Management, L.P. and its affiliates, constitute at least
90% of the then outstanding shares of common stock.
As of the close of business on August 4, 2010, 6,848,732 shares
of common stock had been tendered in and not withdrawn from the
offer. These tendered shares, when added to the number of shares
owned by Highland Capital Management, L.P. and its affiliates,
constitute approximately 87% of the outstanding shares of common
stock.
American HomePatient, a Nevada corporation, is one of the
nation’s largest home health care providers with operations in 33
states. Its product and service offerings include respiratory
services, infusion therapy, parenteral and enteral nutrition, and
medical equipment for patients in their home.
This press release is for informational purposes only and does
not constitute an offer to purchase nor a solicitation of an offer
to sell any securities of American HomePatient. The solicitation
and offer to purchase shares of American HomePatient common stock
is being made pursuant to a tender offer statement on Schedule TO
and related exhibits, including the offer to purchase, letter of
transmittal, and other related documents filed on July 7, 2010 with
the SEC by American HomePatient and subsequently amended on July
22, 2010. These documents contain important information, including
the terms and conditions of the Offer. Investors and security
holders of American HomePatient common stock are urged to read each
of these documents and any amendments to these documents carefully
prior to making any decisions with respect to the Offer.
Certain statements made in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on management’s 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 Company’s actual results or performance to materially
differ from any future results or performance expressed or implied
by such forward-looking statements. These statements involve risks
and uncertainties, including, without limitation, risks and
uncertainties regarding the restructuring plan and its components
(including the self-tender offer), the ability to complete the
restructuring plan and the effect of not completing the
restructuring plan, the status of the Company’s secured debt,
current and future reimbursement rates, and reimbursement
reductions and the Company’s ability to mitigate the impact of the
reductions. These risks and uncertainties are in addition to risks,
uncertainties, and other factors detailed from time to time in the
Company’s filings with the Securities and Exchange Commission. The
Company cautions investors that any forward-looking statements made
by the Company are not necessarily indicative of future
performance. The Company is not responsible for updating the
information contained in this press release beyond the published
date, or for changes made to this document by wire services or
Internet services.