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UNDERWRITERS ANNOUNCE PUBLIC OFFERING OF LINCARE HOLDINGS INC. COMMON STOCK AT $28.50 PER SHARE

 NEW YORK, Dec. 18 /PRNewswire/ -- Dean Witter Reynolds Inc. and Donaldson, Lufkin & Jenrette Securities Corporation announced today the public offering of 1,500,000 shares of common stock of Lincare Holdings Inc. (NASDAQ-NMS: LNCR) at a price of $28.50 per share. The stock is traded on the NASDAQ National Market System under the symbol LNCR. Of the shares being offered, 250,000 are being offered by the company and 1,250,000 are being offered by certain selling shareholders. The selling shareholders have granted the underwriters an overallotment option of 225,000 shares.
 Net proceeds to the company from the offering will be used to redeem $4.1 million of preferred stock and to increase working capital for general corporate purposes.
 Lincare, headquartered in Clearwater, Fla., is one of the nation's largest providers of oxygen and other respiratory therapy to patients in the home, providing services and equipment to over 30,000 customers in 27 states through 115 operating centers. The company's customers typically suffer from chronic obstructive pulmonary disease, such as emphysema, chronic bronchitis or asthma, and require supplemental oxygen or other respiratory therapy services in order to alleviate the symptoms and discomfort of respiratory dysfunction.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 12/18/92
 /CONTACT: Howard R. Deutsch, executive vice president, or James M. Emanuel, chief financial officer, both of Lincare Holdings Inc., 813-530-7700/
 (LNCR)


CO: Lincare Holdings Inc. ST: Florida IN: HEA SU: OFR

WB -- NY030 -- 8154 12/18/92 11:03 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 18, 1992
Words:311
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