secwatch.observer — SEC 8-K summary
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Issuer:     SELECT MEDICAL HOLDINGS CORP (SEM)
CIK:        0001320414
Form:       8-K
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0001104659-24-123173
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Select Medical completes spin-off of Concentra, distributing 104M shares worth $2.3B
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- 104,093,503 shares of Concentra (81.7% stake) distributed to Select stockholders as of Nov 18 record date.
- Stockholders received 0.806971 Concentra shares per Select share; cash in lieu of fractional shares.
- Aggregate market value of distributed shares ~$2.3B based on $22.13 closing price on Nov 25, 2024.
- Pro forma financials reflect separation; planned $550M 6.250% notes due 2032 and $1.05B term loan to repay debt.
- After distribution, Select Medical holds no shares of Concentra common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924123173/0001104659-24-123173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320414/000110465924123173/tm2429402d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-123173

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