The 119-hospital chain’s stock price traded as low as $2.82 on July 3 after closing July 2 at $3.13 per share. CHS’ shares have lost 34 percent of their value since hitting $4.64 on June 20, according to Seeking Alpha.
CHS’ share price began sinking June 29 after the company priced a new offering of approximately $1.03 billion of senior secured notes after markets closed June 28. The company intends to use the proceeds to pay off about $1.01 billion in outstanding term loans and related expenses.
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