CHARLOTTE, N.C., Oct. 7, 2014 (GLOBE NEWSWIRE) -- Premier, Inc. (Nasdaq:PINC) today announced that it plans to proceed with an underwritten company-directed offering on behalf of selling member-owner stockholders who have elected to participate in Premier's upcoming October 31, 2014 share exchange process, as contemplated by a registration rights agreement executed in connection with Premier's initial public offering.
As reported in the Form S-3 Registration Statement filed with the Securities and Exchange Commission (SEC) on October 3, 2014, certain selling stockholders named therein beneficially own approximately 4.7 million shares of Class A common stock that will be issued on October 31, 2014 in exchange for Class B common units of Premier Healthcare Alliance, L.P. under the first quarterly exchange process. Selling stockholders representing approximately 3.9 million Class A common shares have elected to participate in the offering. The details of the offering have not yet been determined and there can be no assurance as to the actual timing of the offering.
Premier is not registering any primary shares to sell on its behalf and will not receive any proceeds from the sale of any Class A common shares by the selling stockholders.
The registration statement has been filed with the SEC but has not yet become effective. Shares of Premier's Class A common stock may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of Premier's Class A common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. A prospectus with respect to the offering of shares under the registration statement, when available, may be obtained from the office of the Corporate Secretary of Premier, Inc., 13034 Ballantyne Corporate Place, Charlotte, NC 28277.
About Premier, Inc.
Premier, Inc. (Nasdaq:PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,000 U.S. hospitals and 110,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare.
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|Jim Storey||Amanda Forster|
|Vice President, Investor Relations||Vice President, Public Relations|