ResCare Announces Extension of Consent Payment Deadline and Expiration of Withdrawal Rights for Tender Offer of 7 3/4% Senior No
17 Dezembro 2010 - 10:47PM
ResCare, Inc. (Nasdaq:RSCR) today announced that it is extending
the consent payment deadline for its previously announced cash
tender offer for any and all of its outstanding 7 3/4% Senior Notes
due 2013 (the "Notes") and the related consent solicitation (the
"Offer") to 5:00 p.m., New York City time, on Tuesday, December 21,
2010, unless extended (the "Consent Payment Deadline"). The Offer
is being made pursuant to the Offer to Purchase and Consent
Solicitation Statement (the "Offer to Purchase") dated
December 6, 2010.
ResCare also announced the expiration of the withdrawal deadline
on Friday, December 17, 2010, at 5:00 p.m., New York City time
(the "Withdrawal Deadline"). Any Notes tendered on or before
the Withdrawal Deadline that were not validly withdrawn before the
Withdrawal Deadline may not be withdrawn, and the related consents
may not be revoked. As previously announced, the expiration
date of the Offer will take place at 11:59 p.m., New York City
time, on January 4, 2011, unless extended (the "Expiration
Time").
Based on information provided by Computershare Trust Company,
N.A., the depositary for the Tender Offer, as of 5:00 p.m., New
York City time, on December 17, 2010, a total of $120,046,000 of
Notes, representing approximately 80.0% of the outstanding Notes,
had been tendered and not withdrawn. Holders of Notes who have
already tendered their Notes do not have to re-tender their Notes
or take any other action as a result of the extension of the
Consent Payment Deadline. Given the receipt of the consent of
the holders of at least a majority in aggregate principal amount of
the outstanding Notes, ResCare will execute a supplemental
indenture effecting the proposed amendments described in the Offer
to Purchase, which will become operative when the tendered Notes
are accepted for purchase.
Holders who tender their Notes before the Consent Payment
Deadline are eligible to receive the Total Consideration (as
defined in the Offer to Purchase). Holders must tender by the
Expiration Time in order to receive the Tender Consideration (as
defined in the Offer to Purchase). ResCare may, at any time,
extend the Consent Payment Deadline or the Expiration Time or
terminate, withdraw or amend the Offer.
J.P. Morgan Securities LLC and BofA Merrill Lynch are the Dealer
Managers for the Offer. The depositary is Computershare Trust
Company, N.A., and the information agent is Georgeson
Inc. Questions or requests for assistance may be directed to
J.P. Morgan Securities LLC at (212) 270-1200 (collect) or (800)
245-8812 (toll free), or to BofA Merrill Lynch at
(980) 388-9217 (collect) or (888) 292-0070 (toll free), or to
Georgeson Inc. at (866) 203-9357.
This release is for informational purposes only and is neither
an offer to purchase nor a solicitation of an offer to sell the
Notes. The offer to buy the Notes is only being made pursuant
to the tender offer and consent solicitation documents, including
the Offer to Purchase and Consent Solicitation Statement that
ResCare distributed to holders of the Notes. The tender offer
and consent solicitation is not being made to holders of Notes in
any jurisdiction in which the making or acceptance thereof would
not be in compliance with the securities, blue sky or other laws of
such jurisdiction. In any jurisdiction in which the tender
offer or consent solicitation is required to be made by a licensed
broker or dealer, they shall be deemed to be made by J.P. Morgan
Securities LLC and BofA Merrill Lynch on behalf of ResCare.
About ResCare
ResCare, founded in 1974, offers services to over 60,000
individuals with special needs each day in 41 states, Washington,
DC, Puerto Rico and certain international locations. ResCare
is a human service company that provides residential, therapeutic,
job training and educational support to people with developmental
or other disabilities, to elderly people who need in-home care, to
youths with special needs and to adults who are experiencing
barriers to employment. ResCare is based in Louisville,
Kentucky. More information about ResCare is available on its
web site at http://www.rescare.com.
ResCare from time to time makes forward-looking statements in
its public disclosures, including statements relating to revenues
that might be expected from new or acquired programs and
facilities, other statements regarding development and acquisition
activities, statements regarding reimbursement under federal and
state programs and statements regarding various trends favoring
downsizing, deinstitutionalization and privatization of government
programs. In ResCare's filings under the federal securities
laws, including its annual, periodic and current reports, ResCare
identifies important factors that could cause ResCare's results to
differ materially from those contained in such forward-looking
statements. Please refer to those disclosures.
CONTACT: ResCare, Inc.
David W. Miles, Chief Financial Officer
502-394-2137
Res-Care, Inc. (MM) (NASDAQ:RSCR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Res-Care, Inc. (MM) (NASDAQ:RSCR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024