20-Feb-2001 8:00-- [B] Repeats: Rite Aid to sell 5.4 mln Advance PCS shrs --
By Ted Knutson, BridgeNews
Washington--Feb. 16--Rite Aid plans to sell 5.434 million AdvancePCS shares in an offering, according to a Securities and Exchange Commission filing Friday. AdvancePCS will be receiving no proceeds from the offering.
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Merrill Lynch and Banc of America are the co-lead underwriters, with participation from Credit Suisse First Boston, JP Morgan, CIBC World Markets and Robinson-Humphrey. The underwriters over-allotment will be up to 652,000 shares for the U.S. underwriters and 163,000 shares for the international underwriters.
Irving, Texas-based AdvancePCS conducts pharmacy and health management services for managed care plans covering nearly one out of every four Americans.
AdvancePCS closed Friday at 49 1/8, up 1/2, on volume of 412,000 shares.
Rite Aid closed Friday at $4.43, down five cents, on volume of 1.7 million shares. End
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Ted Knutson, BridgeNews, Tel. (202) 220-3762/3809
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Copyright 2001 Bridge Information Systems Inc. All rights reserved.
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While at it, here's after-our trades for RAD (Source: Telerate Plus)
119 18.31 T PRUS
350 (N) 16.45 B AURT
113 16.28 S FBCO
100 16.22 S FBCO
900 (N) 16.11 T CANT
2500 (N) 16.10 B PIPR
200 (N) 16.10 C PIPR
10 (M) 16.08.33 T
220 (N) 16.02 S SCHB
___RAD closed @ $4.56; ADVP 46 9/16. To calculate RAD's csh-take in this offering, deduct at least ~7% i-bank from offering price (i assume will be knows in a month or two). add other expenses (roadshow, etc). |
