BRIEF-Bright Health Group Strengthens Capital Position With Amendment To Its Credit Facility

Reuters2023-12-29

Dec 29 (Reuters) - Bright Health Group Inc :

* BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ADVANTAGE BUSINESS

* AMENDMENT WILL REDUCE FINAL REPAYMENT AMOUNT BY APPROXIMATELY $30 MILLION TO APPROXIMATELY $298 MILLION

* RECEIVED ALL REQUIRED REGULATORY APPROVALS ON SALE OF CALIFORNIA MEDICARE ADVANTAGE BUSINESS

* MEDICARE ADVANTAGE BUSINESS TRANSACTION IS EXPECTED TO CLOSE ON OR ABOUT JANUARY 1, 2024

* UPON CLOSING OF MA SALE AND REPAYMENT OF ITS SECURED DEBT, EXPECTS TO BEGIN 2024 WITH ABOUT $90 MILLION OF UNREGULATED CASH

* IN 2024, BRIGHT HEALTH WILL SOLELY FOCUS ON ITS CONTINUING BUSINESS, NEUEHEALTH

* OUTLOOK FOR 2024 IS EXPECTED TO BE POSITIVE ON AN EBITDA BASIS AFTER ADJUSTING FOR CERTAIN NON-CASH EXPENSES

* SUBJECT TO ADJUSTMENTS AND CONDITIONS IN MA SALE AGREEMENT, COMPANY EXPECTS TO RECEIVE AN ADDITIONAL $110 MILLION FROM ESCROW

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2395081750?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-29 19:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2395081750","market":"us","top_or_hot":-1,"title":"BRIEF-Bright Health Group Strengthens Capital Position With Amendment To Its Credit Facility","media":"Reuters","content":"<html><body><p>Dec 29 (Reuters) - <a href=\"https://laohu8.com/S/BHG\">Bright Health Group</a> Inc   :</p><p>   * BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ADVANTAGE BUSINESS</p><p>   * AMENDMENT WILL REDUCE FINAL REPAYMENT AMOUNT BY APPROXIMATELY $30 MILLION TO APPROXIMATELY $298 MILLION</p><p>   * RECEIVED ALL REQUIRED REGULATORY APPROVALS ON SALE OF CALIFORNIA MEDICARE ADVANTAGE BUSINESS</p><p>   * MEDICARE ADVANTAGE BUSINESS TRANSACTION IS EXPECTED TO CLOSE ON OR ABOUT JANUARY 1, 2024</p><p>   * UPON CLOSING OF MA SALE AND REPAYMENT OF ITS SECURED DEBT, EXPECTS TO BEGIN 2024 WITH ABOUT $90 MILLION OF UNREGULATED CASH</p><p>   * IN 2024, BRIGHT HEALTH WILL SOLELY FOCUS ON ITS CONTINUING BUSINESS, NEUEHEALTH</p><p>   * OUTLOOK FOR 2024 IS EXPECTED TO BE POSITIVE ON AN EBITDA BASIS AFTER ADJUSTING FOR CERTAIN NON-CASH EXPENSES</p><p>   * SUBJECT TO ADJUSTMENTS AND CONDITIONS IN MA SALE AGREEMENT, COMPANY EXPECTS TO RECEIVE AN ADDITIONAL $110 MILLION FROM ESCROW</p><p>Source text for Eikon:    Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BRIEF-Bright Health Group Strengthens Capital Position With Amendment To Its Credit Facility</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBRIEF-Bright Health Group Strengthens Capital Position With Amendment To Its Credit Facility\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-29 19:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dec 29 (Reuters) - Bright Health Group Inc   :   * BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1854103824.USD","symbol_name":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) INC","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2395081750","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2395081750","pubTimestamp":1703850715,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Dec 29  - Bright Health Group Inc   :   * BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ADVANTAGE BUSINESS   * AMENDMENT WILL REDUCE FINAL REPAYMENT AMOUNT BY APPROXIMATELY $30 MILLION TO APPROXIMATELY $298 MILLION   * RECEIVED ALL REQUIRED REGULATORY APPROVALS ON SALE OF CALIFORNIA MEDICARE ADVANTAGE BUSINESS   * MEDICARE ADVANTAGE BUSINESS TRANSACTION IS EXPECTED TO CLOSE ON OR ABOUT JANUARY 1, 2024   * UPON CLOSING OF MA SALE AND REPAYMENT OF ITS SECURED DEBT, EXPECTS TO BEGIN 2024 WITH ABOUT $90 MILLION OF UNREGULATED CASH   * IN 2024, BRIGHT HEALTH WILL SOLELY FOCUS ON ITS CONTINUING BUSINESS, NEUEHEALTH   * OUTLOOK FOR 2024 IS EXPECTED TO BE POSITIVE ON AN EBITDA BASIS AFTER ADJUSTING FOR CERTAIN NON-CASH EXPENSES   * SUBJECT TO ADJUSTMENTS AND CONDITIONS IN MA SALE AGREEMENT, COMPANY EXPECTS TO RECEIVE AN ADDITIONAL $110 MILLION FROM ESCROWSource text for Eikon:    Further company co","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1854103824.USD":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) INC","BK4141":"半导体产品","LU1854104046.USD":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4585":"ETF&股票定投概念","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","ON":"安森美半导体","BK4162":"人寿与健康保险","BK4539":"次新股","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4588":"碎股","BK4512":"苹果概念"},"translate_title":"BRIEF-Bright Health Group通过修改其信贷额度加强资本状况","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHG":1,"ON":0.71},"content_text":"Dec 29 (Reuters) - Bright Health Group Inc   :   * BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ADVANTAGE BUSINESS   * AMENDMENT WILL REDUCE FINAL REPAYMENT AMOUNT BY APPROXIMATELY $30 MILLION TO APPROXIMATELY $298 MILLION   * RECEIVED ALL REQUIRED REGULATORY APPROVALS ON SALE OF CALIFORNIA MEDICARE ADVANTAGE BUSINESS   * MEDICARE ADVANTAGE BUSINESS TRANSACTION IS EXPECTED TO CLOSE ON OR ABOUT JANUARY 1, 2024   * UPON CLOSING OF MA SALE AND REPAYMENT OF ITS SECURED DEBT, EXPECTS TO BEGIN 2024 WITH ABOUT $90 MILLION OF UNREGULATED CASH   * IN 2024, BRIGHT HEALTH WILL SOLELY FOCUS ON ITS CONTINUING BUSINESS, NEUEHEALTH   * OUTLOOK FOR 2024 IS EXPECTED TO BE POSITIVE ON AN EBITDA BASIS AFTER ADJUSTING FOR CERTAIN NON-CASH EXPENSES   * SUBJECT TO ADJUSTMENTS AND CONDITIONS IN MA SALE AGREEMENT, COMPANY EXPECTS TO RECEIVE AN ADDITIONAL $110 MILLION FROM ESCROWSource text for Eikon:    Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2395081750"}