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Express Scripts, Inc.
Express Scripts Launches Equity Offering to Finance Acquisition
June 21st, 2009
Express Scripts, Inc. (NASDAQ: ESRX) announced that it is commencing a public offering of 23,000,000 shares of its common stock pursuant to an automatic shelf registration statement on Form S-3 filed today with the Securities and Exchange Commission ("SEC"). The Company will grant the underwriters an option for 30 days to purchase up to 3,450,000 additional shares of common stock to cover over-allotments, if any. The Company estimates net proceeds from the offering will be approximately $1.4 billion, or $1.6 billion if the underwriters exercise their over-allotment in full. The Company plans to use the net proceeds from the equity offering to pay a portion of the $4.675 billion purchase...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-21)
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