Today, Envision Healthcare Holdings Inc announced commencing an initial public offering (IPO) after its registration statement filed with the US Securities and Exchange Commission. Envision Healthcare launched the sale of its 35,000,000 shares of common stock. The company also granted a 30-day option to the underwriters of the sale. The said option states that underwriters for the deal are given the option to purchase up to 5,250,000 shares.
The IPO is expected to be valued between USD20 and USD23 per share piece. The net proceeds of the deal will be used by the company for general corporate purposes. The other part of the proceeds will be used to redeem Envision Healthcare's outstanding 9.25%/10.00% Senior PIK Toggle Notes due by 2017. Remaining parts of the proceeds will be used to repay other debts.
Goldman Sachs & Co, BofA Merrill Lynch, Barclays and Citigroup were appointed as lead joint book-running managers for the offering. RBC Capital Markets, UBS Investment Bank, Deutsche Bank Securities, Morgan Stanley and Credit Suisse serve as acting book-running managers for the IPO. Further, Jefferries LLC was appointed as lead co-manager while Drexel Hamilton, Avondale Partners, Oppenheimer & Co., Cantor Fitzgerald & Co., Drexel Hamilton, Natixis and William Blair are acting co-managers for the IPO.
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