FOR IMMEDIATE RELEASE
Medidata Solutions Announces Full Exercise of the Underwriters’ Over-Allotment Option
NEW YORK, N.Y. – December 23, 2009 – Medidata Solutions, Inc. (NASDAQ: MDSO), a leading global provider of hosted clinical development solutions, today announced that the underwriters of its secondary offering exercised in full their over-allotment option to purchase an additional 825,000 shares of Medidata’s common stock from certain selling stockholders at a public offering price of $15.00 per share, less underwriting discounts and commissions. The option was granted in connection with Medidata’s secondary offering on behalf of certain selling stockholders of 5,500,000 shares of its common stock, which closed on December 14, 2009. The option is expected to close on or around December 24, 2009. Medidata will not receive any of the proceeds from the sale of the additional 825,000 shares.
Citi and Credit Suisse Securities (USA) LLC acted as joint bookrunning managers for the proposed offering. Jefferies & Company, Inc. and Needham & Company, LLC acted as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 8, 2009. This offering is being made by the selling stockholders only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained directly from:
Citi
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, N.Y. 11220
Telephone: (800) 831-9146
Credit Suisse Securities (USA) LLC
Prospectus Department
One Madison Avenue
New York, N.Y. 10010
Telephone: (800) 221-1037
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale, offer or solicitation of these securities in any state or jurisdiction in which such sale, offer or solicitation would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.
About Medidata Solutions Worldwide
Medidata Solutions (www.mdsol.com) is a leading global provider of hosted clinical development solutions that enhance the efficiency of customers’ clinical development processes and optimize their research and development investments. Medidata products and services allow customers to achieve clinical results more efficiently and effectively by streamlining the design, planning and management of key aspects of the clinical development process, including protocol development (Medidata Designer®), investigator benchmarking and budgeting (Medidata Grants Manager™), contract research organization (CRO) benchmarking and budgeting (Medidata CRO Contractor™), and the capture, management, analysis and reporting of clinical trial data (Medidata Rave®). Medidata’s diverse customer base spans pharmaceutical, biotechnology and medical device companies, academic institutions, CROs and other research organizations, and includes more than 20 of the top 25 global pharmaceutical companies.
Investor Contact:
Hulus Alpay
Medidata Solutions
212.419.1025
halpay@mdsol.com
Media Contact:
Susan McCarron
Lois Paul & Partners
781.782.5767
Susan_McCarron@lpp.com