---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-075765"
form_type: "8-K"
ticker: "SEM"
cik: "0001320414"
company_name: "SELECT MEDICAL HOLDINGS CORP"
filed_at: "2024-06-27T23:59:59+00:00"
generated_at: "2026-06-01T00:57:17.998334+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Select Medical's Concentra subsidiary prices $650M of 6.875% senior notes due 2032

## Summary
- $650M aggregate principal of 6.875% senior notes due 2032 priced by Concentra Escrow Issuer.
- Notes issued as a step in the planned separation of Concentra from Select Medical.
- Proceeds held in escrow pending merger into CHSI expected Q3 2024; if not closed by Sep 30, notes subject to special mandatory redemption at 100% plus accrued interest.
- Concentra to use $50M for corporate purposes; remainder plus borrowings paid as dividend to Select Medical Corp.
- Upon merger, notes guaranteed by Concentra and certain subsidiaries on senior unsecured basis.

## SEC filing metadata
- accession: 0001104659-24-075765
- form_type: 8-K
- ticker: SEM
- cik: 0001320414
- company_name: SELECT MEDICAL HOLDINGS CORP
- filed_at: 2024-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1320414/000110465924075765/0001104659-24-075765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320414/000110465924075765/tm2418470d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-075765
- JSON: https://secwatch.observer/filing/0001104659-24-075765.json
- Plain text: https://secwatch.observer/filing/0001104659-24-075765.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.