NASHVILLE, Tenn., Aug. 11 /PRNewswire/ -- Emdeon Inc. (the "Company") today announced the pricing of its initial public offering of 23,700,000 shares of its Class A common stock at a price of $15.50 per share. Of the shares being offered, 10,725,000 were offered by the Company and 12,975,000 were offered by selling stockholders. The shares will be listed on the New York Stock Exchange under the ticker symbol "EM." To the extent that the underwriters sell more than 23,700,000 shares of Class A common stock, the underwriters have the option to purchase up to an additional 3,555,000 shares of Class A common stock from the selling stockholders at the initial public offering price less the underwriting discount. The offering is expected to close on or about August 17, 2009.
The Company intends to use approximately $5.8 million of the net proceeds from the offering received by it to repurchase ownership interests in its operating subsidiary held by certain members of management with the remainder used for general corporate purposes, which may include the repayment of indebtedness and future acquisitions. The Company will not receive any of the proceeds from the offering of the Class A common stock by the selling stockholders.
Morgan Stanley, Goldman, Sachs & Co., UBS Investment Bank and Barclays Capital will act as book-running managers of the offering.
The registration statement relating to the initial public offering of shares of Class A common stock of the Company has been declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of Class A common stock 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 su
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