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Select Medical (SEM) has issued an announcement.
On June 26, 2024, Concentra Escrow Issuer Corporation, under Select Medical Holdings Corporation, made a deal to sell $650 million of Senior Notes due 2032, with a merger and full assumption of obligations by Concentra Health Services planned upon the deal’s closure. These notes, along with other guarantees, will be offered privately to institutional buyers and international investors outside the U.S. The proceeds, kept in escrow until the merger’s completion expected in Q3 of 2024, will fund corporate activities and pay dividends to Select Medical Corporation. However, if the merger falls through by September 30, 2024, a mandatory redemption of the notes will be triggered.
For a thorough assessment of SEM stock, go to TipRanks’ Stock Analysis page.
