NASHVILLE, Tenn., Nov. 17, 2021 (GLOBE NEWSWIRE) — Clover Well being Investments, Corp. (Nasdaq: CLOV), (“Clover Well being”), a know-how firm dedicated to bettering well being fairness for seniors, in the present day introduced the pricing of its beforehand introduced underwritten public providing of 52,173,913 shares of its Class A Widespread Inventory at a worth of $5.75 per share. As well as, Clover Well being has granted the underwriters a 30-day choice to buy as much as 7,826,086 further shares of its Class A Widespread Inventory on the public providing worth, much less the underwriting reductions and commissions. The combination gross proceeds to Clover Well being from the providing are anticipated to be roughly $300 million, earlier than deducting underwriting reductions and commissions and providing bills and assuming no train of the underwriters’ choice to buy further shares. The entire shares are being provided by Clover Well being. The providing is predicted to shut on or about November 22, 2021, topic to the satisfaction of customary closing situations.
Clover Well being intends to make use of the web proceeds from this providing for working capital and common company functions.
Citigroup and Deutsche Financial institution Securities are appearing as joint book-running managers for the providing. SVB Leerink and Canaccord Genuity LLC are appearing as book-runners for the providing.
The providing is being made solely by way of a prospectus. Copies of the ultimate prospectus referring to the providing could also be obtained by contacting: Citigroup International Markets Inc., c/o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, NY 11717, phone: 1-800-831-9146 or e mail: firstname.lastname@example.org; or Deutsche Financial institution Securities Inc., Attn: Prospectus Division, 1 Columbus Circle, New York, New York 10019, phone: 800-503-4611 or e mail: email@example.com.
No Provide or Solicitation
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction through which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction. Registration statements relating to those securities have been filed with the SEC and had been declared efficient by the SEC.
Ahead Trying Statements
This press launch comprises forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Ahead-looking statements embrace statements concerning the proceeds to be acquired by us within the providing, anticipated use of proceeds and the timing of closing of the providing. These statements are topic to recognized and unknown dangers, uncertainties and different components that will trigger our precise outcomes to vary materially from outcomes expressed or implied on this press launch, together with however not restricted to the dangers and uncertainties contained within the Threat Components part of our Quarterly Report on Kind 10-Q for the quarter ended September 30, 2021, which we filed with the Securities and Trade Fee on November 9, 2021, the preliminary prospectus associated to the proposed public providing and subsequent filings with the SEC. Clover Well being assumes no obligation, and doesn’t intend, to replace these forward-looking statements on account of future occasions or developments.