"AdvancePCS Files Registration Statement for Secondary Common Stock Offering"
Friday February 16, 5:53 pm Eastern Time
Press Release
AdvancePCS Files Registration Statement for Secondary Common Stock Offering
IRVING, Texas--(BW HealthWire)--Feb. 16, 2001--AdvancePCS (Nasdaq: ADVP - news) Friday announced that it has filed a registration statement with the Securities and Exchange Commission relating to a secondary public offering of up to 6.25 million shares of AdvancePCS' Class A Common Stock currently owned by Rite Aid Corp.
AdvancePCS will not receive any proceeds from this offering.
Rite Aid obtained the AdvancePCS shares as part of the transaction in which AdvancePCS acquired Rite Aid's pharmacy benefit management subsidiary, PCS Health Systems, in October 2000.
Merrill Lynch & Co. and Banc of America Securities LLC will serve as lead managers for the offering. Credit Suisse First Boston, JP Morgan, CIBC World Markets and The Robinson-Humphrey Co. will serve as co-managers.
The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This news 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained, when available, from the offices of Merrill Lynch & Co., World Financial Center-North Tower, 250 Vesey, New York, NY, 10281; 202/449-1000.
AdvancePCS (www.advancepcsrx.com) is the nation's largest independent provider of health improvement services, touching the lives of more than 75 million health plan members and managing more than $20 billion in annual prescription drug spending.
The company offers health plans a wide range of health improvement products and services designed to improve the quality of care delivered to health plan members.
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Contact:
AdvancePCS
Blair Jackson, 480/391-4138
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