Alliance HealthCare Services, Inc. (NYSE: AIQ), announced today that it has received tenders and consents on or prior to 5:00 p.m., New York City time on November 25, 2009 (the "Consent Date") representing approximately 98.1% of the $300 million aggregate principal amount of its outstanding 7¼% Senior Subordinated Notes due 2012 (the "notes"). Alliance has received the requisite consents from holders of the notes to amend the notes and the indentures governing the notes, and has entered into supplemental indentures eliminating substantially all of the restrictive covenants and certain events of default contained in the notes and the indentures governing the notes. Consents received prior to the Consent Date are now irrevocable. The amendments will become operative upon Alliance's acceptance for purchase of the notes tendered prior to the Consent Date, which is expected to occur on December 1, 2009. Alliance will pay for notes tendered prior to the Consent Date promptly following acceptance of such notes for purchase.
The tender offer will expire at midnight, New York City time, on Thursday, December 10, 2009, unless extended or terminated (such time and date, including any such extension, the "Expiration Date").
Alliance has retained Deutsche Bank Securities Inc. to act as the exclusive Dealer Manager and Solicitation Agent in connection with the tender offer and consent solicitation. Questions regarding the tender offer and consent solicitation and requests for documents may be directed to Deutsche Bank Securities Inc. at (212) 250-3276 (collect) or Global Bondholder Services Corporation, the Information Agent in connection with the tender offer and consent solicitation, at (866) 470-4300 (toll free).
This press release shall not constitute an offer or solicitation to purchase or a solicitation of consents with respect to any securities. Any such offer or solicitation will be made only by means of the Offer to Purchase and Consent Solicitation Statement dated November 12, 2009.
Forward-Looking Statements
This news release contains "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Act. Forward-looking statements reflect current expectations and projections about future events, and thus involve uncertainty and risk. It is possible that future events, including the timing of acceptance and payment for notes tendered in the tender offer, may differ from expectations due to a variety of risks and other factors such as those described in Alliance's Annual Report on Form 10-K for the year ended December 31, 2008, as updated by subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this news release are based on certain assumptions and analyses made in light of Alliance's experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. Alliance does not intend to update any particular forward-looking statements contained in this news release.
Contacts:
Alliance HealthCare Services, Inc.
Howard Aihara, (949) 242-5300
Executive
Vice President and Chief Financial Officer
www.alliancehealthcareservices-us.com