MOORESTOWN, N.J., Dec. 05, 2017 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) (“TRHC”), a healthcare technology company optimizing medication safety by deploying new medication risk mitigation digital software solutions and novel, proprietary medication decision support tools, today announced the pricing of the previously announced underwritten public offering of shares of its common stock, which includes 1,350,000 shares offered by TRHC and 1,650,000 shares offered by certain stockholders of TRHC named in the preliminary prospectus supplement (the “Selling Stockholders”) at a price to the public of $27.50 per share. The offering is expected to close on or about December 8, 2017, subject to customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 450,000 shares of common stock from certain of the Selling Stockholders.
TRHC intends to use all of the net proceeds from the offering to repay outstanding indebtedness under its credit facility. TRHC will not receive any proceeds from shares of common stock to be sold by the Selling Stockholders.
Piper Jaffray & Co. and Citigroup are acting as joint book-running managers for the offering. Baird and William Blair are also acting as bookrunners. Oppenheimer & Co. is acting as lead manager for the offering and First Analysis Securities Corp. is acting as co-manager for the offering. Chardan Capital Markets is acting as a financial advisor for the offering.
The offering is being made pursuant to an effective shelf registration statement (File No. 333-220965) previously filed with the Securities and Exchange Commission (“SEC”), which was declared effective on October 23, 2017. A preliminary prospectus supplement and accompanying base prospectus describing the terms of the offering have been filed with the SEC, and a final prospectus supplement and accompanying base prospectus will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Before investing in TRHC, you should read the prospectus supplement and the accompanying prospectus, and other documents that TRHC has filed or will file with the SEC, for information about TRHC and this offering.
When available, a copy of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at prospectus@pjc.com, or by phone at (800) 747-3924; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payors, providers and other healthcare organizations. For more information, visit: www.TRHC.com.
Forward-Looking Statements
This press release includes forward-looking statements that we believe to be reasonable as of today’s date including statements regarding whether the offering will close as anticipated and the anticipated use of proceeds therefrom. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the risk that we may not be able to achieve our expectations for the combined companies due to challenges in integration and inability to retain key employees; our continuing losses and need to achieve profitability; fluctuations in our financial results; the acceptance and use of our products and services by PACE organizations; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; the requirements of being a public company; our ability to recognize the expected benefits from acquisitions on a timely basis or at all; our status as an “emerging growth company”; and the other risk factors set forth from time to time in our filings with the SEC, including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 14, 2017, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website http://ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
Investor Contact:
Investors
Bob East or Asher Dewhurst
Westwicke Partners
443-213-0500
tabularasa@westwicke.com
Media
Dianne Semingson
215-870-0829
dsemingson@TRHC.com