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Rotech Healthcare Announces Closing of Private Offering of $290M Notes
Posted March 18, 2011
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ORLANDO, Fla. --(BUSINESS WIRE)-- Rotech Healthcare Inc. (OTCBB: ROHI) announced the closing of its previously announced offering of $290 million in aggregate principal amount of Senior Second Lien Notes due 2018.
Rotech expects to use the net proceeds received from the offering to repay all of its Senior Subordinated Notes due 2012, for payment of related fees and expenses and for general corporate purposes, as applicable, including funding the company's strategic priorities.
The notes were offered only to qualified institutional buyers in reliance on Rule 144A, to persons outside the United States under Regulation S, under the Securities Act, and to certain accredited investors as defined in Rule 501(a) under the Securities Act of 1933, as amended. The initial issuance of the notes was not registered under the Securities Act, and the notes may not be offered or sold without registration in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
About Rotech Healthcare Inc.
Rotech Healthcare Inc. is one of the largest providers of home medical equipment and related products and services in the United States, with a comprehensive offering of respiratory therapy and durable home medical equipment and related services. The Company provides home medical equipment and related products and services principally to older patients with breathing disorders, such as chronic obstructive pulmonary diseases (COPD), which include chronic bronchitis, emphysema, obstructive sleep apnea and other cardiopulmonary disorders. The Company provides equipment and services in 48 states through approximately 425 operating locations located primarily in non-urban markets.
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