January 25, 2010 (FinancialWire) — Centene Corp. (NYSE: CNC) has priced a follow-on public offering of five million shares of its common stock at a public offering price of $19.25 per share.

The company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the public offering price to cover any over-allotments. The offering is scheduled to close on January 27, 2010.

Centene plans to use the net proceeds of the offering to repay the outstanding indebtedness under its $300,000,000 revolving credit facility and for general corporate purposes, which may include acquisitions, capital expenditures and additions to working capital.

St. Louis-based Centene is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including the Children’s Health Insurance Program, as well as Aged, Blind, or Disabled, Foster Care, Long-Term Care and Medicare (Special Needs Plans).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.