JACKSONVILLE, Fla., June 29, 2012 (GLOBE NEWSWIRE) -- PSS World Medical, Inc. (Nasdaq:PSSI) announced today that it has commenced an offer to exchange any or all of its $250 million of outstanding 6.375% Senior Notes due 2022 issued in a private placement on February 24, 2012, for an equal principal amount of newly issued 6.375% Senior Notes due 2022, which have been registered under the Securities Exchange Act of 1933, as amended.
The exchange offer is being made to satisfy the Company's obligations under a registration rights agreement entered into on February 24, 2012, in connection with the issuance of the outstanding notes and does not constitute a new financing transaction. The Company will not receive any further proceeds from the exchange offer.
The terms of the new notes are substantially identical to the terms of the outstanding notes, except that the new notes will be registered under the Securities Act of 1933, as amended, and will not be subject to the transfer restrictions and registration rights relating to the outstanding notes. Outstanding notes that are not exchanged in the exchange offer will continue to be subject to the existing transfer restrictions, and the Company will generally have no further obligation to provide for the registration of those notes under the Securities Act of 1933, as amended.
The exchange offer will expire at 5:00 p.m., New York City time, on July 30, 2012, unless extended by the Company. Tenders of outstanding notes must be validly made at or prior to the expiration time and may be withdrawn at any time prior to the expiration of the exchange offer.
The terms of the exchange offer are set forth in a prospectus dated June 29, 2012, and the related letter of transmittal. The exchange offer is being made only pursuant to the exchange offer documents being distributed to holders of the outstanding notes, including the prospectus dated June 29, 2012, and the related letter of transmittal. Requests for assistance or for copies of documents related to the exchange offer, including the prospectus and the letter of transmittal, should be directed to the exchange agent, U.S. Bank National Association, at (800) 934-6802.
This press release is not an offer to buy or sell or the solicitation of an offer to buy or sell any of the securities described herein, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About PSS World Medical
PSS World Medical, Inc. markets and distributes medical products to physicians, elder care providers and alternate-site healthcare providers throughout the United States. Since its inception in 1983, PSS has become a leader in the market segments that it serves with a focused approach to customer service and operational excellence. The Company's stated purpose is to strengthen the clinical success and financial health of caregivers by solving their biggest problems.
Certain statements in this release are "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements are identified by the use of words such as "expect," "may," "will," "should," "believe," "plan," "anticipate," and "estimate" among others, and specifically include statements regarding the expiration of the exchange offer and any statements of assumptions underlying the foregoing. These statements involve a number of risks and uncertainties, many of which are outside the control of the Company. Actual results may differ materially from those identified in the forward-looking statements. Among the factors that could cause results to differ materially are the amount of outstanding notes validly tendered and not withdrawn prior to the currently expected expiration date and the satisfaction of the conditions to the exchange offer and other factors described from time to time in the Company's reports filed with the Securities and Exchange Commission. PSS World Medical, Inc. assumes no obligation to update the information in this release except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.