Cano Health Inc.

09/21/2021 | Press release | Distributed by Public on 09/21/2021 05:28

Material Event (Form 8-K)

Other Events.

On September 21, 2021, Cano Health, Inc. (the "Company") announced that its subsidiary, Cano Health, LLC, intends to offer, subject to market conditions, $300 million aggregate principal amount of its senior notes due 2028 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

The Company intends to use the net proceeds from the offering to repay in full the $250.0 million unsecured bridge term loan outstanding under its bridge loan agreement, to pay related fees and expenses, and the remainder for general corporate purposes.

The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S.buyers in accordance with Regulation S under the Securities Act. The Notes have not been and are not expected to be registered under the Securities Act or under any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This Current Report on 8-Kdoes not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

The disclosure above contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding the proposed offering, the anticipated use of proceeds of the offering and expectations regarding the size of the offering. There can be no assurance that the offering will be consummated. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including, among others, the availability of debt and equity financing; the Company's ability to refinance its outstanding indebtedness; and changes in market or industry conditions affecting the Company's financial condition or results of operations. These factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are described in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The forward-looking statements speak only as of the date of this Current Report on Form 8-Kand the Company undertakes no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent otherwise required by law.