Select Medical Holdings Corporation receives exercise of underwriters' over-allotment option notice

Oct 24 2009

Select Medical Holdings Corporation ("Select") (NYSE: SEM), the parent of Select Medical Corporation, today announced that it had received notice of the exercise of the underwriters' over-allotment option to purchase an additional 3,602,700 shares of Select's common stock at a price per share of $10.00, which is expected to close on October 28, 2009, subject to customary closing conditions. The over-allotment option was granted in connection with Select's initial public offering of 30,000,000 shares, which closed on September 30, 2009.

Total additional net proceeds to Select from the exercise of the over-allotment option are expected to be approximately $33.9 million. Select intends to use the net proceeds from the exercise of the over-allotment option to repay indebtedness. Any remaining net proceeds will be used for general corporate purposes.

SOURCE Select Medical Holdings Corporation