Allscripts Completes Pricing of Offering of 7.3 Million Shares of Common Stock
Allscripts (Nasdaq:MDRX) announced today that it has agreed to sell 7,300,000 shares of common stock at a public offering price of $17.75 per share. After deducting underwriting discounts and commissions, net proceeds to Allscripts will be $123.1 million (or a net price of $16.86 per share)
CHICAGO (February 23, 2006) –
Allscripts (Nasdaq:MDRX) announced today that it has agreed to sell 7,300,000 shares of common stock at a public offering price of $17.75 per share. After deducting underwriting discounts and commissions, net proceeds to Allscripts will be $123.1 million (or a net price of $16.86 per share). On February 22, 2006, the last sale price of Allscripts common stock on the Nasdaq National Market was $18.15 per share.
Allscripts intends to use all of the net proceeds from the offering to finance the proposed acquisition of A4 Health Systems, Inc. If the acquisition is not consummated, the proceeds will be used for general corporate purposes.
The offering was led by Lehman Brothers and UBS Investment Bank as joint book-running managers. Jefferies Broadview, William Blair & Company, Piper Jaffray and Goldman, Sachs & Co. were co-managers for the offering. Allscripts has granted the underwriters an option to purchase up to an additional 1,095,000 shares from Allscripts if the underwriters sell more than 7,300,000 shares of common stock in the offering.
As previously announced, Allscripts is repurchasing 1,250,000 shares of its common stock from IDX Systems Corporation, a subsidiary of GE, contingent upon the closing of the offering. The purchase price for the shares is $16.86 a share (the net price per share that Allscripts will receive in the offering), for an aggregate price of $21.1 million.
A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Lehman Brothers, Prospectus Department, c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York, NY 11717 and UBS Investment Bank, 299 Park Avenue, New York, NY 10071. These documents are being filed with the Securities and Exchange Commission and will be available over the Internet at the SEC’s web site at http://www.sec.gov.
About Allscripts
Allscripts is a provider of clinical software, connectivity and information solutions that physicians use to improve healthcare. Allscripts Clinical Solutions Group’s clinical software applications include Electronic Health Record, e-prescribing and document imaging solutions. Additionally, Allscripts provides clinical product education and connectivity solutions for physicians and patients through its Physicians Interactive(TM) Group and medical fulfillment services through its Medication Solutions Group.
This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any offer of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Statements in this press release contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements about the offering, the proposed acquisition, the proposed stock repurchase and the intended use of proceeds of the offering. These statements involve a number of risks and uncertainties, including conditions in the financial markets and customary closing conditions. For a more complete discussion of the risks, uncertainties and assumptions that may affect Allscripts, see the final prospectus supplement relating to the offering and Allscripts’ 2004 Annual Report on Form 10-K, available through the Web site maintained by the Securities and Exchange Commission at www.sec.gov.
CONTACT: Allscripts
Bill Davis, 312-506-1211
bill.davis@allscripts.com
SOURCE: Allscripts
Source: Allscripts
