NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream, Inc. ("HealthStream") (NASDAQ: HSTM) announced today that
it has priced its previously announced underwritten public offering of
3,365,000 shares of common stock at a price to the public of $26.75 per
share. The 3,365,000 share offering represents a 265,000 share upsize to
the originally proposed 3,100,000 share offering. The underwriters will
have a 30-day option to purchase up to an additional 504,750 shares from
HealthStream. The offering is expected to close on May 28, 2015, subject
to customary closing conditions.
HealthStream will receive net proceeds of approximately $85.0 million
(or approximately $97.8 million if the underwriters exercise their
over-allotment option in full) after deducting underwriting discounts
and commissions and estimated offering expenses payable by HealthStream.
HealthStream intends to use $28.0 million of the net proceeds from the
offering to repay all of its outstanding revolving credit facility
borrowings and the remaining net proceeds for general corporate
purposes, including working capital and the financing of potential
acquisitions of, or investments in, strategic businesses, products or
technologies.
William Blair & Company, L.L.C. and Raymond James & Associates, Inc. are
serving as joint book-running managers of the offering. Avondale
Partners, LLC, Craig-Hallum Capital Group LLC and First Analysis
Securities Corp. are serving as co-managers of the offering.
The offering is being made solely by means of a prospectus supplement to
the prospectus filed with the Securities and Exchange Commission (the
"SEC") as a part of HealthStream's effective shelf registration
statement on Form S-3 (File No. 333-198059). Prospective investors in
the offering should read the prospectus supplement and accompanying
prospectus for the offering and the other documents incorporated therein
by reference that HealthStream has filed with the SEC for more complete
information about HealthStream and the offering. Investors can obtain
these documents without charge on the SEC website at www.sec.gov.
Alternatively, copies of the prospectus supplement and the accompanying
prospectus relating to the offering can be obtained from William Blair &
Company, L.L.C., Attention: Prospectus Department, 222 West Adams
Street, Chicago, Illinois 60606, or by calling 1-800-621-0687, and from
Raymond James & Associates, Inc., Attention: Equity Syndicate, 880
Carillon Parkway, St. Petersburg, Florida 33716, or by calling
1-800-248-8863.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About HealthStream
HealthStream (NASDAQ: HSTM) is dedicated to improving patient outcomes
through the development of healthcare organizations' greatest asset:
their people. Our unified suite of solutions is contracted by,
collectively, over 4.4 million healthcare employees in the U.S. for
workforce development, training & learning management, talent
management, credentialing, privileging, provider enrollment, performance
assessment, and managing simulation-based education programs. Our
research solutions provide valuable insight to healthcare providers to
meet HCAHPS requirements, improve the patient experience, engage their
workforce, and enhance physician alignment. Based in Nashville,
Tennessee, HealthStream has additional offices in San Diego, California,
Laurel, Maryland, Brentwood, Tennessee, Pensacola, Florida, and Jericho,
New York. For more information, please call 1-800-933-9293.
Cautionary Statement Regarding Forward Looking Statements
The foregoing statements regarding HealthStream's intentions with
respect to the contemplated offering are forward-looking statements
under the Private Securities Litigation Reform Act of 1995, and actual
results could vary materially from the statements made. HealthStream's
ability to complete the offering successfully is subject to various
risks, many of which are outside its control, including prevailing
conditions in the capital markets and other risks and uncertainties as
detailed from time to time in HealthStream's reports and other documents
filed with the SEC. HealthStream assumes no obligation to update
forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
statements, except to the extent required by applicable securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150521006620/en/
HealthStream, Inc.
Gerard M. Hayden, Jr., 615-301-3163
Chief
Financial Officer
ir@healthstream.com
or
Mollie
Condra, Ph.D., 615-301-3237
Vice President, Investor Relations &
Communications
Mollie.condra@healthstream.com
Source: HealthStream, Inc.
News Provided by Acquire Media
.png)
.png)