Attached files
| file | filename |
|---|---|
| 8-K - CLOSING PRESS RELEASE - CNO Financial Group, Inc. | form8k.htm |
Exhibit 99.1
For
Release Immediate
Contacts (News Media) Tony Zehnder,
Corporate Communications 312.396.7086
(Investors) Scott Galovic, Investor Relations 317.817.3228
Conseco,
Inc. Announces Completion of Public Offering of Common Stock
Carmel, Ind., December 22,
2009 – Conseco, Inc. (the “Company”) (NYSE:CNO) announced today that it
has completed its previously announced public offering. In the public
offering Conseco issued and sold 49,500,000 shares of its common stock at a
public offering price of $4.75 per share, including 4,500,000 shares issued and
sold to the underwriters to cover over-allotments. The net proceeds
to the Company from this offering, after deducting underwriting commissions and
discounts and estimated offering expenses, totaled approximately $222.7
million. The Company used approximately $161.4 million of the net
proceeds from the offering to reduce its indebtedness under its senior credit
agreement and the remaining net proceeds will be used by the Company for general
corporate purposes.
Morgan
Stanley & Co. Incorporated acted as bookrunning manager and Credit Suisse
Securities (USA) LLC, FBR Capital Markets & Co. and Macquarie Capital (USA)
Inc. acted as co-managers. Copies of the final prospectus relating to
these securities may be obtained from Morgan Stanley & Co. Incorporated,
at 180 Varick Street, 2nd Floor, New York, New York 10014, Attention:
Prospectus Department, Toll-Free (866) 718-1649 or by emailing
prospectus@morganstanley.com.
This
announcement shall not constitute an offer to sell or the solicitation of an
offer to buy any securities of the Company, nor shall there be any sale of
securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
- more
-
Conseco
(2)
December
22, 2009
About
Conseco
Conseco,
Inc.’s insurance companies help protect working American families and seniors
from financial adversity: Medicare supplement, long-term care, cancer, critical
illness and accident policies protect people against major unplanned expenses;
annuities and life insurance products help people plan for their financial
futures.
Cautionary Statement Regarding
Forward-Looking Statements. The statements, trend analyses and
other information contained in this press release and elsewhere (such as in
filings by Conseco with the SEC, presentations by Conseco or its management or
oral statements) relative to markets for Conseco’s products and trends in
Conseco’s operations or financial results, as well as other statements, contain
forward-looking statements within the meaning of the federal securities laws and
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
typically are identified by the use of terms such as “anticipate, ” “believe, ”
“plan, ” “estimate, ” “expect, ” “project, ” “intend,” “may, ” “will, ” “would,
” “contemplate, ” “possible, ” “attempt, ” “seek, ” “should, ” “could, ” “goal,
” "target, ” “on track, ” “comfortable with,” “optimistic” and similar words,
although some forward-looking statements are expressed differently. Statements
that contain these words should be considered carefully because they describe
Conseco’s expectations, plans, strategies and goals and Conseco’s beliefs
concerning future business conditions, Conseco’s results of operations,
financial position, and Conseco’s business outlook or they state other
“forward-looking” information based on currently available information. The
“Risk Factors” section of Conseco’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q provides examples of risks, uncertainties and events that
could cause Conseco’s actual results to differ materially from the expectations
expressed in forward-looking statements. All written or oral
forward-looking statements attributable to Conseco are expressly qualified in
their entirety by the foregoing cautionary statement. The forward-looking
statements speak only as of the date made. Conseco assumes no obligation to
update or to publicly announce the results of any revisions to any of the
forward-looking statements to reflect actual results, future events or
developments, changes in assumptions or changes in other factors affecting the
forward-looking statements.
- # # # #
-