By DAVID A. FOX
Community Health Systems Inc. (CYH) has priced its 18 million-share stock offering at $28.19 a share, garnering $269 million in net proceeds for the company from its 10 million share portion of the sale. The other 8 million shares were sold by New York investment firm Forstmann Little and other shareholders.
The Brentwood-based operator of 51 hospitals will use its proceeds to repay senior debt.
The offering was led by Merrill Lynch and CS First Boston.
Community Health shares settled Monday at $28.19. Their 52-week range is $13.06-$33.88.