Omnicare Announces Conversion Rate Adjustment for Convertible Notes
(Thomson Reuters ONE) -
CINCINNATI, November 11, 2014 - Omnicare, Inc. (NYSE: OCR) (the "Company")
announced today an adjustment to the conversion rate of its 3.75% Convertible
Senior Subordinated Notes due 2042 (the "2042 Notes").
Effective immediately, the adjusted conversion rate for the 2042 Notes is
24.5154 shares of common stock per $1,000 principal amount of the 2042 Notes, or
approximately $40.79 per share. The conversion rate per $1,000 principal amount
of the 2042 Notes was previously 24.3607 shares of common stock per $1,000
principal amount of the 2042 Notes.
The conversion rate for the 2042 Notes was adjusted by the Company to give
effect to carry-forward adjustments related to the Company's 2014 regular
quarterly dividend payments and in connection with the notice of redemption for
all of the outstanding 2042 Notes issued by the Company on November 10, 2014.
The adjusted conversion rate will be applied to each day of the applicable 25
trading day cash settlement averaging period for any 2042 Notes converted on or
prior to December 9, 2014.
Each holder of the 2042 Notes may convert all or a portion of such holder's
2042 Notes on or prior to December 9, 2014, subject to the terms and conditions
of the indenture governing the 2042 Notes. Upon conversion, the Company will
pay (1) cash and shares of its common stock, if any, based on a daily conversion
value calculated on a proportionate basis for each day of the applicable 25
trading day cash settlement averaging period and (2) cash in an amount equal to
$56.0526 per $1,000 principal amount of 2042 Notes representing the make-whole
payment specified by the indenture.
About Omnicare
Omnicare, Inc., a Fortune 500 company based in Cincinnati, Ohio, provides
comprehensive pharmaceutical services to patients and providers across the
United States. As the market-leader in professional pharmacy, related
consulting and data management services for skilled nursing, assisted living and
other chronic care institutions, Omnicare leverages its unparalleled clinical
insight into the geriatric market along with some of the industry's most
innovative technological capabilities to the benefit of its long-term care
customers. Omnicare also provides specialty pharmacy and key commercialization
services for the bio-pharmaceutical industry through its Specialty Care Group.
For more information, visit www.omnicare.com.
# # #
Contact:
Patrick C. Lee
(513) 719-1507
patrick.lee(at)omnicare.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Omnicare via GlobeNewswire
[HUG#1870584]
Unternehmensinformation / Kurzprofil:
Datum: 11.11.2014 - 18:51 Uhr
Sprache: Deutsch
News-ID 351591
Anzahl Zeichen: 3395
contact information:
Town:
Covington, KY
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 183 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Omnicare Announces Conversion Rate Adjustment for Convertible Notes"
steht unter der journalistisch-redaktionellen Verantwortung von
Omnicare (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
