ATLANTA, Dec. 8 /PRNewswire-FirstCall/ -- Mariner Health Care, Inc. (“Mariner”) (BULLETIN BOARD: MHCA) announced today that it has extended the expiration date of its current cash tender offer and consent solicitation for all of its outstanding 8 1/4% Senior Subordinated Notes due 2013 (“Notes”) to 12:00 midnight New York City time, on December 9, 2004. Mariner is in receipt of tenders and consents representing 100% of the aggregate principal amount of the Notes outstanding.
Mariner is extending the expiration of the tender offer to more closely correspond to the anticipated closing of the pending merger between Mariner, National Senior Care, Inc. and NCARE Acquisition Corp. The closing of the tender offer and consent solicitation is subject to certain conditions, including, but not limited to, the consummation of the pending merger.
Upon consummation of the tender offer and assuming the payment date is December 10, 2004, Mariner will pay tender offer consideration of $1,176.75 for each $1,000 principal amount of Notes purchased in the tender offer as well as a consent payment of $20 for each $1,000 principal amount of Notes purchased, resulting in total consideration of $1,196.75 for each $1,000 principal amount of Notes tendered, plus accrued and unpaid interest.
Mariner has retained Credit Suisse First Boston LLC to serve as the exclusive Dealer Manager and Solicitation Agent for the tender offer and consent solicitation. Requests for documents may be directed to Morrow & Co., Inc., the Information Agent, by telephone at (800) 607-0088 (toll-free). Questions regarding the tender offer may be directed to Credit Suisse First Boston LLC at (800) 820-1653 (toll-free) or (212) 538-0652 (collect).
This press release is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consent with respect to any securities. The offer is being made solely by the Offer to Purchase and Consent Solicitation Statement and related Consent and Letter of Transmittal dated November 2, 2004.
Mariner is headquartered in Atlanta, Georgia and certain of its subsidiaries and affiliates own and/or operate approximately 252 skilled nursing and two assisted living facilities as well as 12 long-term acute care hospitals representing approximately 32,000 beds across the country.
Contact: Mariner Health Care, Inc.
Boyd Gentry Senior Vice President and Treasurer 678-443-6872
Mariner Health Care, Inc.
CONTACT: Boyd Gentry, Senior Vice President and Treasurer of MarinerHealth Care, Inc., +1-678-443-6872
Web site: http://www.marinerhealthcare.com/