Medco Health Solutions, Inc. (NYSE: MHS) has just made an SEC Filing that will allow the company to raise capital in the near future if it chooses. While this could be a large offering, there is actually not an "up to" amount noted, so this is an open filing that will be on the shelf if it chooses. No underwriters for such offering(s) were designated either.
It lists that it will be able to sell Debt, Preferred shares, common stock, warrants, purchase contracts, and units as the securities that can be sold. These are actually quite common, although shelf registrations frequently are more specific.
The use of proceeds is also a cookie cutter statement as they are for general corporate purposes, which could include working capital, capital expenditures, acquisitions, refinancing other debt or other capital transactions. This was listed as one of Jim Cramer’s "picks for 5-years out" in previous coverage.
Jon C. Ogg
March 12, 2008
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