SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported) June 19, 1997
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-11353 13-3757370
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(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) No.)
358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 910-229-1127
ITEM 5. OTHER EVENTS
On June 19, 1997, Laboratory Corporation of America Holdings (the
"Company") issued a press release announcing the successful completion of its
rights offering.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
99 Press release of the Company dated June 19, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Registrant)
By: /s/ Wesley R. Elingburg
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Wesley R. Elingburg
Executive Vice President,
Chief Financial
Officer and Treasurer
Date: June 20, 1997
EXHIBIT 99
FOR IMMEDIATE RELEASE
Contact: Pamela Sherry (910) 584-5171
LABORATORY CORPORATION OF AMERICA[Trademark] HOLDINGS
REPORTS SUCCESSFUL COMPLETION OF RIGHTS OFFERING
Burlington, NC, June 19, 1997 -- Laboratory Corporation of
America[Trademark] Holdings (LabCorp[Trademark]) (NYSE: LH) today
announced the results of the rights offering which expired June 16, 1997 at
5:00 p.m. New York time. According to American Stock Transfer & Trust
Company, the Subscription and Information Agent, rights were exercised to
purchase 4,363,202 shares of 8 1/2% Series A Convertible Exchangeable
Preferred Stock and 5,636,798 shares of 8 1/2% Series B Convertible Pay-in-
Kind Preferred Stock for an aggregate purchase price of $500,000,000, of
which $11,631,500 represents shares purchased pursuant to the
oversubscription privilege. Roche Holdings, Inc., the owner of
approximately 49.9% of LabCorp's common stock, exercised its basic
subscription privilege in full for 4,988,522 shares of 8 1/2% Series B
Convertible Pay-in-Kind Preferred Stock and other rights holders purchased
the remaining 5,011,478 shares. The offer was oversubscribed and payment
for subscriptions for 3,983,405 shares will be returned in accordance with
the terms of the rights offering. There were a sufficient number of shares
subscribed in each series so that both series will be listed on the New
York Stock Exchange.
Credit Suisse First Boston Corporation acted as dealer manager for the
rights offering.
Laboratory Corporation of America Holdings is a national clinical
laboratory organization with revenues of $1.6 billion in 1996. The Company
operates primary testing facilities nationally, offering more than 1,700
different clinical assays, from routine blood analysis to more
sophisticated technologies. LabCorp performs diagnostic tests for
physicians, managed care organizations, hospitals, clinics, long-term care
facilities, industrial companies and other clinical laboratories.
