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Envision Healthcare Holdings Inc (NYSE:EVHC): Clayton, Dubilier & Rice, LLC, And Other Officers Sell Shares Privately

Boston, MA 09/24/2014 (wallstreetpr) – Provider of physician-led, outsourced medical services, Envision Healthcare Holdings Inc (NYSE:EVHC) disclosed that some of the investments connected with Clayton, Dubilier & Rice, LLC, and some of its Directors and executive officers were selling shares to Citigroup Inc (NYSE:C).

Sale of Shares

In what could be termed as insiders selling shares, as many as 17.5 million shares were sold by them to Citigroup Inc (NYSE:C), who would be the sole underwriters to the issue, according to its statement. However, it has disclosed the pricing of the issue per share. Since no shares were sold by the company, the proceeds would go to the selling stakeholders from the sale of shares.

Citigroup Inc (NYSE:C) would sell the underwritten shares from time to time either in one transactions or more on the New York Stock Exchange, over-the-counter market, or through negotiated deals or at market prices existing at the time of sale. The pricing and the negotiated deals would be subject to the acceptance by the parties concerned.

Envision Healthcare Holdings Inc (NYSE:EVHC) said that it filed a registration statement with the Securities and Exchange Commission for the issue. It has also filed its prospectus with the SEC, which can be viewed in its website.

One-Year Insider Trading

According to a Nasdaq data, there were fourteen transactions of insider trading activities in the last three-month period. While only one transaction was reported for buying of 411 shares, there were 13 transactions of sale of 31.42 million shares. As a result, there was a net selling activity of 31.42 million shares.

Similarly, of the total 40 insider trading activities in the last 52-week period, eight transactions belonged to acquisition of 13,289 shares while 32 transactions were reporting for selling 63.32 million shares. This left a net selling of 63.3 million shares in the last one-year period.

With the latest 17.5 million shares, the net selling activity would further increase to about 80.8 million shares. Predictably, investors were reacting negatively to the share sale announcement by dragging the stock down on Wednesday.

Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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