Teladoc Announces Pricing of Sale of Shares of Common Stock
November 29 2017 - 6:19PM
Teladoc, Inc. (NYSE:TDOC) (“Teladoc”) today announced the
pricing of the previously announced offering of shares of its
common stock, which includes 3,454,000 shares offered by Teladoc
and 830,000 shares offered by certain stockholders of Teladoc named
in the preliminary prospectus supplement (the “selling
stockholders”) at a price to the public of $35.00 per share. The
offering is expected to close on or about December 4, 2017, subject
to customary closing conditions. In addition, the underwriters have
a 30-day option to purchase up to an additional 642,600 shares of
common stock from Teladoc.
The proceeds of the primary portion of the offering will be used
by Teladoc to prepay borrowings outstanding under its senior
secured term loan facility. The remaining proceeds of the primary
portion of the offering will be used by Teladoc for working capital
and general corporate purposes. Teladoc will not receive any
proceeds from shares of common stock to be sold by the selling
stockholders.
J.P. Morgan, Jefferies LLC and Piper Jaffray & Co. are
acting as joint book-running managers for the offering. William
Blair is acting as co-manager for the offering.
A copy of the preliminary prospectus supplement and the
accompanying prospectus related to the offering may be obtained
from J.P. Morgan, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York, 11717, or by telephone:
(866) 803-9204; or from Jefferies LLC by mail at 520 Madison
Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate
Prospectus Department, by telephone at (877)-821-7388 or by email
at prospectus_department@jefferies.com; or from Piper Jaffray &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, or by email at prospectus@pjc.com, or by
phone at (800) 747-3924.
A registration statement (including a prospectus) relating to
these securities has been filed with the U.S. Securities and
Exchange Commission (the “SEC”) and has become effective. This
offering may be made only by means of a prospectus supplement and
accompanying prospectus. Before you invest, you should read the
prospectus supplement and the accompanying prospectus in that
registration statement and other documents filed with the SEC for
more information about Teladoc and this offering. You may obtain
these documents free of charge by visiting the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy 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 Teladoc
Teladoc, Inc. (NYSE:TDOC) is the largest telehealth provider in
the world. Recognized by MIT Technology Review as one of the “50
Smartest Companies,” Teladoc is forging a new healthcare experience
with better convenience, outcomes and value. The company provides
virtual access to high quality care and expertise, with a portfolio
of services and solutions covering 450 medical subspecialties from
non-urgent, episodic needs like flu and upper respiratory
infections, to chronic, complicated medical conditions like cancer
and congestive heart failure. By marrying the latest in data and
analytics with its award-winning user experience and highly
flexible technology platform, Teladoc has delivered millions of
medical visits to patients around the globe.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: “anticipate,”
“intend,” “plan,” “believe,” “project,” “estimate,” “expect,”
“may,” “should,” “will” and similar references to future periods.
Examples of forward-looking statements include, among others,
statements we make regarding our financing plans (including
statements related to the offering of common stock by us and the
selling stockholders and the intended use of net proceeds of the
offering), future revenues, future earnings, future numbers of
members or clients, litigation outcomes, regulatory developments,
market developments, new products and growth strategies, and the
effects of any of the foregoing on our future results of operations
or financial conditions.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: (i) changes in laws and
regulations applicable to our business model; (ii) changes in
market conditions and receptivity to our services and offerings;
(iii) results of litigation; (iv) the loss of one or more key
clients; (v) our ability to successfully integrate acquisitions;
and (vi) changes to our abilities to recruit and retain qualified
providers into our network. Additional relevant risks that may
affect our results are described in certain of our filings with the
SEC.
Any forward-looking statement made by us in this press release
is based only on information currently available to us and speaks
only as of the date on which it is made. We undertake no obligation
to publicly update any forward-looking statement, whether written
or oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Media Contact:Courtney
McLeodDirector of Communications,
Teladoc914-265-6789cmcleod@teladoc.com
Investor Contact: Bob
EastorAsher DewhurstWestwicke
Partners443-213-0500teladoc@westwicke.com
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