secwatch.observer — SEC 8-K summary
======================================

Issuer:     SELECT MEDICAL HOLDINGS CORP (SEM)
CIK:        0001320414
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001104659-24-084488
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Select Medical completes Concentra IPO of 22.5M shares at $23.50, retains ~82% stake
--------------------------------------------------------------------------------

- IPO of 22.5M shares of Concentra common stock at $23.50/share; net proceeds $499.7M.
- IPO proceeds paid to SMC to repay intercompany debt; SMC retains ~82.23% of Concentra.
- Select credit agreement amended; revolving commitments reduced from $770M to $550M.
- Concentra entered into $1.25B credit facilities ($850M term loan, $400M revolver).
- Concentra assumed $650M of 6.875% senior notes due 2032.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924084488/0001104659-24-084488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924084488/tm2420448d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-084488

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer