ELMSFORD, N.Y., June 18, 2015 /PRNewswire/ -- BioScrip, Inc.
(NASDAQ: BIOS) (the "Company") today announced that its Board of
Directors set the record date for the previously disclosed upcoming
rights offering (the "Rights Offering") as of the close of business
June 25, 2015 (the "Record Date").
The Company expects the Rights Offering will commence no later than
June 30, 2015 and conclude by the end
of July 2015. On the commencement date, or as soon as
practicable thereafter, the Company will distribute the
subscription rights, non-transferable subscription rights
certificates and copies of the prospectus to stockholders of record
as of 5:00 p.m. New York City time on the Record Date.
As previously announced, stockholders of record will receive, at
no charge, their pro rata share of non-transferable subscription
rights with respect to the outstanding shares of common stock owned
by them on the Record Date, subject to rounding adjustment as
contemplated by the terms of the Rights Offering. The
subscription rights are for the purchase of units consisting up to
an aggregate of (1) 200,000 shares of 8.5%/11.5% Series A
convertible preferred stock, (2) 576,000 Class A warrants, each
full warrant to purchase one share of the Company's common stock
("Common Stock") at a price of $5.17
per share, and (3) 576,000 Class B warrants, each full warrant to
purchase one share of Common Stock at a price of $6.45 per share.
This press release is for informational purposes only.
Additional details regarding the Rights Offering are included in
the Company's Form S-3 filed with the Securities and Exchange
Commission (the "SEC") on March 10,
2015, as amended on May 29,
2015 (File No. 333-202631), and the Company will be filing a
final prospectus at the time the Rights Offering is commenced,
which will contain final terms. The rights and securities offered
for subscription thereunder may not be sold, nor may offers to buy
be accepted, prior to the time such registration statement becomes
effective. The Rights Offering is being made only pursuant to the
prospectus and non-transferable subscription rights certificate,
both of which are being distributed to holders of common stock and
have been filed with the SEC as part of such registration
statement.
The Company continues to evaluate market conditions and
financing options that would improve its current liquidity profile
and enhance its financial flexibility. This may include, but is not
limited to, opportunities to raise additional funds through the
issuance of various forms of equity and/or debt securities or other
instruments, including additional rights offerings.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these rights offering securities,
nor shall there be any sale of these rights offering securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
A written prospectus for the Rights Offering, when available,
may be obtained by contacting Georgeson Inc., 480 Washington Blvd.,
26th Floor, Jersey City, NJ 07310,
Tel: (877) 278-4775.
About BioScrip, Inc.
BioScrip, Inc. is a leading national provider of infusion and
home care management solutions. BioScrip partners with physicians,
hospital systems, skilled nursing facilities, healthcare payors,
and pharmaceutical manufacturers to provide patients access to
post-acute care services. BioScrip operates with a commitment to
bring customer-focused pharmacy and related healthcare infusion
therapy services into the home or alternate-site setting. By
collaborating with the full spectrum of healthcare professionals
and the patient, BioScrip provides cost-effective care that is
driven by clinical excellence, customer service, and values that
promote positive outcomes and an enhanced quality of life for those
it serves. BioScrip provides its infusion services from over 70
locations across 28 states.
Forward-Looking Statements – Safe Harbor
This press release includes statements that may constitute
"forward-looking statements," including projections of certain
measures of the Company's results of operations, projections of
certain charges and expenses, and other statements regarding the
Company's goals, regulatory approvals and strategy. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. You can identify
these statements by the fact that they do not relate strictly to
historical or current facts. In some cases, forward-looking
statements can be identified by words such as "may," "should,"
"could," "anticipate," "estimate," "expect," "project," "outlook,"
"aim," "intend," "plan," "believe," "predict," "potential,"
"continue" or comparable terms. Because such statements inherently
involve risks and uncertainties, actual future results may differ
materially from those expressed or implied by such forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those in the forward-looking statements as a result
of various factors. Important factors that could cause or
contribute to such differences include but are not limited to risks
associated with: the Company's ability to grow its Infusion
Services segment organically or through acquisitions and obtain
financing in connection therewith; its ability to reduce operating
costs while sustaining growth; reductions in federal, state and
commercial reimbursement for the Company's products and services;
increased government regulation related to the health care and
insurance industries; as well as the risks described in the
Company's periodic filings with the Securities and Exchange
Commission. The Company does not undertake any duty to update these
forward-looking statements after the date hereof, even though the
Company's situation may change in the future. All of the
forward-looking statements herein are qualified by these cautionary
statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bioscrip-inc-announces-record-date-for-rights-offering-300101752.html
SOURCE BioScrip, Inc.