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-Underwriters of SXC Health's stock sale use greenshoe.

BANKING AND CREDIT NEWS-May 17, 2012--Underwriters of SXC Health's stock sale use greenshoe(C)2012 M2 COMMUNICATIONS

17 May 2012 -- The underwriters of SXC Health Solutions Corp's (NASDAQ:SXCI; TSE:SXC) common stock offering have used their over-allotment option for 780,000 shares, bringing total net proceeds to the company to USD518.6m (USD407.5m), the US pharmacy benefit management (PBM) services provider said on Wednesday upon the close of the deal.

JPMorgan Securities LLC, Barclays Capital Inc and Credit Suisse Securities (USA) LLC served as the joint book-running managers, while Citigroup Global Markets Inc and Morgan Stanley & Co LLC (NYSE:MS) were the joint lead managers of the offering. JMP Securities LLC, William Blair & Company LLC, Houlihan Lokey Capital Inc, TD Securities (USA) LLC, SunTrust Robinson Humphrey Inc and Versant Partners Inc acted as co-managers.

Including the exercise of the greenshoe option by the underwriters, the company issued 5.98m pieces of its common stock at USD90.60 per share.

As previously disclosed, the company intends to use the net proceeds to finance its proposed merger with Catalyst Health Solutions Inc. If the merger is cancelled, the company will use the funds from the stock offering for general corporate purposes.

Based in Lisle, Illinois, with many offices across the USA and Canada, SXC Health Solutions provides PBM services and software applications to the participants in the pharmaceutical supply chain including pharmacy benefit managers, federal and local governments, employers and other healthcare intermediaries.

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Publication:M2 Banking & Credit News (BCN)
Date:May 17, 2012
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