Dec 16 2009
Team Health Holdings, Inc. (the "Company") announced the pricing of its initial public offering of 13,300,000 shares of common stock at $12.00 per share. All of the shares are being offered by the Company. The offering is expected to close on December 21, 2009.
The common stock of the Company will be listed on The New York Stock Exchange and will begin trading today under the symbol "TMH" subject to official notice of issuance.
The underwriters have a 30-day option to purchase up to an additional 1,995,000 shares of common stock from the Company.
The Company intends to use the net proceeds of approximately $146.5 million from the offering to redeem approximately $136.9 million of its existing $203.0 million aggregate principal amount of 11.25% senior subordinated notes due 2013, plus estimated premiums.
SOURCE Team Health Holdings, Inc.