A Medical Device Daily Staff Report
Tenet Healthcare (Dallas) has commenced a tender offer to purchase for cash any and all of the $216 million aggregate principal amount outstanding of its 7.375% senior notes due 2013. The tender offer is being made pursuant to an offer to purchase dated as of Oct. 1, 2012 and related letter of transmittal. The tender offer will expire at midnight, EST, on October 29.
Holders of notes that are validly tendered prior to the early tender time of 5 pm, EST, on Oct. 15, 2012 and accepted for purchase will receive total consideration of $1,019.67 per $1,000 principal amount of notes validly tendered and accepted for purchase, which includes an early tender premium of $30 per $1,000 principal amount of notes, plus any accrued and unpaid interest up to, but not including, the initial settlement date, which is expected to be Oct. 16, 2012.
Holders of notes that are validly tendered after the early tender time, but prior to the expiration of the tender offer, and accepted for purchase will receive the tender offer consideration of $989.67 per $1,000 principal amount of notes, plus any accrued and unpaid interest up to, but not including, the final settlement date, which is expected to be Oct. 30.
In other financings, BSD Medical (Salt Lake City), a provider of medical systems that use heat therapy to treat cancer, has filed a universal shelf registration statement with the Securities and Exchange Commission (SEC) for the issuance of up to $50 million in mixed securities. Once declared effective by the SEC, the registration statement will allow for the issuance of common stock, preferred stock, warrants, senior debt, subordinated debt and units up to an aggregate of $50 million. This registration statement was filed to replace a similar, expiring registration statement. Although BSD has no current plans to do so, it may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if the securities are offered.
Pursuant to a prior shelf registration statement declared effective by the SEC in October 2009, BSD completed four stock offerings during calendar year 2010, receiving total net proceeds of approximately $16.2 million.
BSD Medical makes systems to treat cancer and benign diseases using heat therapy delivered using focused radiofrequency (RF) and microwave energy. BSD's product lines include both hyperthermia and ablation treatment systems. BSD's hyperthermia cancer treatment systems are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD's microwave ablation system has been developed as a stand-alone therapy to ablate and destroy soft tissue.