AMERICA HOLDINGS (NYSE:LH) Files An 8-K Regulation FD DisclosureItem 7.01
Regulation FD Disclosure
Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) announced today that its Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes) may be converted as set forth below.
The Zero Coupon Notes are convertible into cash and Common Stock of LabCorp, if any, subject to the terms of the Zero Coupon Notes and the Indenture, dated as of October 24, 2006 between LabCorp and The Bank of New York Mellon, as trustee (Trustee) and the conversion agent.
In order to exercise the option to convert all or a portion of the Zero Coupon Notes, holders must validly surrender their Zero Coupon Notes at any time during the calendar quarter through the close of business at 5:00 p.m., New York City time, on Friday, March 31, 2017. The Trustee has informed LabCorp that, as of this date, all custodians and beneficial holders of the Zero Coupon Notes hold the Zero Coupon Notes through Depository Trust Company (DTC) accounts and that there are no certificated Zero Coupon Notes in non-global form. Accordingly, all Zero Coupon Notes surrendered for conversion must be delivered through the transmittal procedures of DTC.
Should Zero Coupon Notes be converted, LabCorp would be required to pay holders in cash for the accreted principal amount of the securities to be converted, with the remaining amount, if any, to be satisfied with shares of Common Stock. The shares required for settlement of the Zero Coupon Notes are included in LabCorp’s computation of fully diluted earnings per share.
About AMERICA HOLDINGS (NYSE:LH) Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). The Company’s LCD segment is an independent clinical laboratory business that consists of a network of approximately 40 primary laboratories and approximately 1,700 patient service centers (PSCs) along with a network of branches and STAT laboratories, which offer a menu of routine and frequently ordered tests. LCD offers a menu of over 4,700 tests, such as blood chemistry analyses, urinalyses, blood cell counts and thyroid tests. Its CDD segment offers drug development services, and provides a range of drug development solutions across the world, primarily to companies in the pharmaceutical and biotechnology industries. AMERICA HOLDINGS (NYSE:LH) Recent Trading Information AMERICA HOLDINGS (NYSE:LH) closed its last trading session up +1.17 at 129.55 with 608,374 shares trading hands.