Centene Corp. (CNC) announced that it has commenced a follow-on public offering of 5 million shares of its common stock. In addition, the company plans to grant to the underwriters an option to buy up to 750 thousand shares to cover any overallotments.
Centene said it intends to use this offering net proceeds to repay the outstanding indebtedness under its $300 million revolving credit facility and for general corporate purposes, which may include acquisitions, capital expenditures and additions to working capital.
The company noted that the underwriters are led by BofA Merrill Lynch, Goldman, Sachs & Co., J. P. Morgan Securities Inc., and Credit Suisse Securities (USA) LLC. Barclays Capital Inc., Allen & Company LLC, and Stifel, Nicolaus & Company, Inc. will be the co-managers of the offering.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.