MedCath Announces Exercise of Common Stock Offering Over-Allotment Option
November 29 2006 - 5:09PM
PR Newswire (US)
CHARLOTTE, N.C., Nov. 29 /PRNewswire-FirstCall/ -- MedCath
Corporation (NASDAQ:MDTH) announced today that the underwriters of
its common stock offering have exercised their over-allotment
option to purchase an additional 400,000 shares of MedCath common
stock from certain selling stockholders at $25.00 per share. The
underwriters exercised the option on November 27, 2006 and the
transaction closed today. The company did not receive any proceeds
from the sale of shares by the selling stockholders. Citigroup
Global Markets Inc., Wachovia Capital Markets, LLC, and Deutsche
Bank Securities Inc., acted as joint book-running managers for the
underwritten offering. In addition, Banc of America Securities LLC,
Raymond James & Associates, Inc. and Stephens Inc. acted as
co-managers for the offering. A copy of the prospectus relating to
the offering may be obtained by contacting Citigroup Global Markets
Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn,
NY 11220 (tel: 718-765-6732); or from the Equity Syndicate
Department of Wachovia Capital Markets, LLC, 375 Park Avenue, 4th
Floor, New York, New York 10152 (Email: ); or from Deutsche Bank
Securities Inc. at 60 Wall Street, New York, New York 10005, (tel:
212-250-2500). A registration statement relating to these
securities has been filed with the Securities and Exchange
Commission and has become effective. This release shall not
constitute an offer to sell or the solicitation of an offer to buy,
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. Any offer or
sale will be made only by means of the written prospectus forming
part of the effective registration statement. MedCath Corporation,
headquartered in Charlotte, N.C., is a healthcare provider focused
primarily on the diagnosis and treatment of cardiovascular disease.
MedCath focuses on serving the unique needs of patients suffering
from cardiovascular disease. MedCath owns interests in and operates
eleven hospitals with a total of 667 licensed beds, located in
Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South
Dakota, and Texas. In addition, MedCath manages the cardiovascular
program at various hospitals operated by other parties. Further,
MedCath provides cardiovascular care services in diagnostic and
therapeutic facilities located in various states. DATASOURCE:
MedCath Corporation CONTACT: O. Edwin French, President & Chief
Executive Officer, or James E. Harris, Chief Financial Officer, of
MedCath Corporation, +1-704-708-6600 Web site:
http://www.medcath.com/
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