Company sells its stock at 9.91% discount to Blue Shield of California
By Devika Patel
Knoxville, Tenn., Feb. 1 - Magellan Health Services, Inc. settled a private placement of stock on Jan. 31, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $20 million.
The company sold 416,840 common shares at $47.98 per share to Blue Shield of California. The price per share is a 9.91% discount to the $48.46 closing share price on Jan. 28.
Magellan is a Farmington, Conn.-based provider of behavioral health-care treatment services.
| Issuer: | Magellan Health Services, Inc.
|
| Issue: | Common stock
|
| Amount: | $20 million
|
| Shares: | 416,840
|
| Price: | $47.98
|
| Warrants: | No
|
| Investor: | Blue Shield of California
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| Settlement date: | Jan. 31
|
| Stock symbol: | Nasdaq: MGLN
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| Stock price: | $48.41 at close Jan. 31
|
| Market capitalization: | $1.67 billion
|
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