Select Medical Holdings Corporation Announces Distribution Ratio For Special Stock Distribution To Stockholders; Stockholders Will Receive 0.806971 Shares Of Concentra's Common Stock For Every Share Of Select Medical's Common Stock Held As Of The Close Of Business On The Record Date
Select Medical Holdings Corporation ("Select Medical," "we," "us," or "our") (NYSE:SEM) today announced the distribution ratio for the previously announced special stock distribution (the "Distribution") to its stockholders of its equity interest in Concentra Group Holdings Parent, Inc. ("Concentra") (NYSE:CON). Based on the shares of Select Medical's common stock outstanding as of November 18, 2024, the record date (the "Record Date") for the Distribution, Select Medical's stockholders will receive 0.806971 shares of Concentra's common stock for every share of Select Medical's common stock held as of the close of business on the Record Date.
The Distribution by Select Medical of the special stock distribution will be made on November 25, 2024 (the "Distribution Date") in the form of a pro rata common stock distribution to all of Select Medical's stockholders of record on the Record Date. No fractional shares of Concentra's common stock will be distributed. Instead, Select Medical's stockholders will receive cash in lieu of any fraction of a share of Concentra's common stock that they otherwise would have received. The Distribution is generally intended to qualify as tax free to Select Medical's stockholders for U.S. federal income tax purposes.
J.P. Morgan and Goldman Sachs are acting as financial advisors to Select Medical in connection with the Distribution. Dechert LLP is acting as legal advisor to Select Medical in connection with the Distribution.
