08-Mar-2001 17:51-- [B] Secondary Pricing: Advance PCS prices 5.434 mln shrs at $47.375 each --
New York, March 8 (BridgeNews) - Advance PCS priced 4,434,783 shares at $47.375 each, lead underwriter Merrill Lynch said.
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Company: Advance PCS
Industry: Provides pharmacy benefit management services; serves about 75 million health plan members and manages more than $20 billion in annual prescription drug spending on behalf of its health plan sponsors
CEO: David Halbert, (469) 420-6000
Location: Irving, Texas
Lead underwriter: Merrill Lynch, (212) 449-4600
Co-managers: Banc of America Securities; Credit Suisse First Boston; CIBC World Markets; Robinson-Humphrey
Symbol: ADVP
Primary Exchange: Nasdaq
CUSIP: 00790K109
FILING TERMS: PRICING TERMS:
Date: February 16, 2001 March 8, 2001
Number of Shares: 5,434,783 5,434,783
Value of Deal: $264.03 million $255.85 million
PRICE PER SHARE: $48.625 $47.375
Note: All shares offered by selling shareholders; company was formerly known as Advance Paradigm Inc.
Gross spread: 1.90 Selling concession: 1.14 Reallowance: .10
Underwriter fee: .38 Management fee: .38 Settlement date: 3-14
Over-allotment option: 652,094 shares
Shares outstanding after offer: 31,185,741
Use of proceeds: The company will receive no net proceeds from this offering
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