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Nashville, Tennessee (February 7, 1996) - Renal Care Group, Inc. today announced the initial public offering of 3.9 million shares of the Company's Common Stock at $18.00 per share. The net proceeds from the offering of approximately $64 million will be used to fund the cash portion of the purchase price for the combination of the five dialysis companies comprising the founding companies, to repay certain indebtedness, and for general corporate purposes, including additional acquisitions. The Company has granted to the underwriters the option to sell an additional 585,000 shares at the initial public offering price to cover over-allotments.
Equitable Securities Corporation and Morgan Keegan and Company, Inc. served as managing underwriters for the offering. The Common Stock will be traded over-the-counter on the Nasdaq National Market under the symbol "RCGI". Renal Care Group, Inc. is a specialized provider of nephrology services that was founded in June 1995 to focus on the provision of care to patients with kidney disease, including patients suffering from chronic kidney failure. The Company provides dialysis and ancillary services to approximately 2,700 patients through 41 outpatient dialysis centers in eight states. Renal Care Group also provides acute dialysis services through contractual relationships with 21 hospitals.
A written prospectus may be obtained by contacting Equitable Securities Corporation, 800 Nashville City Center, 511 Union Street, Nashville, TN 37219-1743, (615) 780-9300, or Morgan Keegan and Company, Inc., Morgan Keegan Tower, 50 North Front Street, Memphis, TN 38103, (901) 524-4100.
THIS PRESS 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 LAW OF ANY SUCH STATE. |
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