AdvancePCS Announces Proposed Shelf Registration.Business Editors/Health & Medical Writers IRVING, Texas--(BW HealthWire)--May 29, 2001 AdvancePCS (Nasdaq: ADVP) Tuesday announced that it intends to file a registration statement with the Securities and Exchange Commission registering 5,700,000 shares of Class A common stock to be sold from time to time by AdvancePCS and a total of 1,600,000 shares of Class A common stock to be sold from time to time by selling stockholders. AdvancePCS will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from its sale of shares to repay existing indebtedness. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Class A common stock to be sold in the offering will be filed with the Securities and Exchange Commission but has not been filed nor become effective. The company has obtained a consent to file the registration statement under the lockup agreement lockup agreement A contractual offer of valuable assets or stock made by a takeover target to the suitor deemed most acceptable to management. A lockup agreement tends to discourage unwanted suitors, but it may penalize the target firm's stockholders because it entered into in connection with the March 2001 secondary offering of its Class A common stock. The Class A common stock may not be sold nor may offers be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of any offer to buy, nor shall there be any sale of the Class A common stock in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. About AdvancePCS AdvancePCS (www.advancepcsrx.com) is the nation's largest independent provider of health improvement services, touching the lives of more than 75 million health plan members and managing more than $21 billion annually in prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, spending. The company offers health plans a wide range of health improvement products and services designed to improve the quality of care delivered to health plan members. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Any statements included in this press release that are not historical facts and that concern predictions of economic performance and management's plans and objectives constitute forward-looking statements under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include factors detailed in the company's Securities and Exchange Commission filings. |
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