U.S. Physical Therapy Announces $150 Million Underwritten Public Offering of Common Stock
23 Maio 2023 - 5:30PM
Business Wire
U.S. Physical Therapy, Inc. (NYSE: USPH) (“U.S. Physical
Therapy” or the “Company”) today announced that it has commenced an
underwritten public offering of $150,000,000 of shares of common
stock. The Company has granted the underwriters an option to
purchase up to an additional $22,500,000 of shares of common stock
from the Company.
U.S. Physical Therapy intends to use the net proceeds of this
offering for repayment of a portion of its indebtedness outstanding
under its revolving credit facility, and for general corporate
purposes, including future acquisitions and other capital
expenditures, as well as funding working capital and paying
dividends.
BofA Securities and J.P. Morgan are acting as joint lead
bookrunners for the offering, and Jefferies is acting as
bookrunner. The offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed or as to the actual size or terms of the
offering.
The offering is being made pursuant to an effective shelf
registration statement, which has been filed with the Securities
and Exchange Commission (the “SEC”) and became effective May 23,
2023. The offering will be made only by means of a preliminary
prospectus supplement and the accompanying base prospectus, copies
of which may be obtained on the SEC’s website at www.sec.gov
or from BofA Securities, Attn: Prospectus Department,
NC1-022-02-25, 201 North Tryon, Charlotte, NC 28255-0001, or by
email at dg.prospectus_requests@bofa.com and J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by email at
prospectus-eq_fi@jpmchase.com.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities being offered, nor
shall there be any sale of any such 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.
About U.S. Physical
Therapy
Founded in 1990, U.S. Physical Therapy operates 649 outpatient
physical therapy clinics in 40 states. The Company's clinics
provide preventative and post-operative care for a variety of
orthopedic-related disorders and sports-related injuries, treatment
for neurologically-related injuries and rehabilitation of injured
workers. In addition to owning and operating clinics, the Company
manages 34 physical therapy facilities for unaffiliated third
parties, including hospitals and physician groups. The Company also
has an industrial injury prevention business which provides onsite
services for clients’ employees including injury prevention and
rehabilitation, performance optimization, post-offer employment
testing, functional capacity evaluations, and ergonomic
assessments.
Forward-Looking
Statements
This press release contains statements that are considered to be
forward-looking within the meaning under Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
contain forward-looking information relating to the financial
condition, results of operations, plans, objectives, future
performance and business of our Company. These statements (often
using words such as “believes”, “expects”, “intends”, “plans”,
“appear”, “should” and similar words) involve risks and
uncertainties that could cause actual results to differ materially
from those we expect. Included among such statements may be those
relating to new clinics, availability of personnel and the
reimbursement environment. The forward-looking statements are based
on our current views and assumptions and actual results could
differ materially from those anticipated in such forward-looking
statements as a result of certain risks, uncertainties, and
factors. Many factors are beyond our control. Given these
uncertainties, you should not place undue reliance on our
forward-looking statements. For additional information regarding
these and other risks and uncertainties, that could cause actual
results to differ materially from those contained in our
forward-looking statements, please refer to “Risk Factors” in our
Annual Report on Form 10-K for the year ended December 31, 2022,
filed with the Securities and Exchange Commission (“SEC”) on
February 28, 2023 and any risk factors contained in subsequent
quarterly and annual reports we file with the SEC. Our
forward-looking statements represent our estimates and assumptions
only as of the date of this report. Except as required by law, we
are under no obligation to update any forward-looking statement as
a result of new information, future events, or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230523006081/en/
U.S. Physical Therapy, Inc. Carey Hendrickson, Chief Financial
Officer Email: chendrickson@usph.com
Chris Reading, Chief Executive Officer (713) 297-7000
Three Part Advisors Joe Noyons (817) 778-8424
US Physical Therapy (NYSE:USPH)
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