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Nashville, Tennessee (October 10,1996) - Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced that it has filed a registration statement with the Securities and Exchange Commission to register an offering of 3,000,000 shares of common stock, of which 1,500,000 shares will be sold by the Company and 1,500,000 shares will be sold by certain stockholders of the Company. The offering will be lead-managed by Equitable Securities Corporation, and Hambrecht & Quist, Morgan Keegan & Co., Inc., and Needham & Company, Inc. will co-manage the offering. The Company plans to grant the underwriters an option for 30 days to purchase an additional 450,000 shares from the Company solely to cover over-allotments in the offering.
The Company intends to use the net proceeds from the sale of shares by the Company for general corporate purposes, which may include potential future acquisitions. The selling stockholders are former owners of companies that founded Renal Care Group and former owners of companies acquired by Renal Care Group who are participating in the offering as part of a registration rights program established as part of their initial transactions with the Company. After the offering, these selling stockholders will continue to own in excess of 80% of their shares held in the aggregate at the time of their initial transactions.
Renal Care Group, Inc. is a nephrology services company 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.
Offers may be made only by means of a prospectus, a copy of which may be obtained from Equitable Securities Corporation at 800 Nashville City Center, Nashville, Tennessee, 37219-1743.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. 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 laws of any such state. |