WellCare Announces Offering of Common Stock
WELLCARE HEALTH PLANS (WCG)
Last wellcare health plans earnings: 10/30 06:00 am
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US:NYSE Investor Relations:
ir.wellcare.com
Company Research
Source: PR Newswire
TAMPA, Fla., Aug. 6, 2018 /PRNewswire/ -- WellCare Health Plans, Inc. (NYSE: WCG) (the "Company" or "WellCare") announced today that it intends to offer for sale 3,990,712 shares of its common stock (the "common stock"). SunTrust Robinson Humphrey and J.P. Morgan will serve as joint book-running managers and as representatives of the underwriters for the offering. Goldman Sachs & Co. LLC and Wells Fargo Securities will also serve as joint book-running managers for the offering. The Company will grant the underwriters an option for 30 days to purchase up to an additional 598,606 shares of common stock. WellCare intends to use the net proceeds from the offering to fund a portion of the cash consideration for the Company's previously announced acquisition (the "Acquisition") of Meridian Health Plan of Michigan, Inc., Meridian Health Plan of Illinois, Inc. and MeridianRx, a pharmacy benefit manager, (collectively, "Meridian") to pay related fees and expenses and for
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