FOR IMMEDIATE RELEASE
NEW YORK, N.Y. – December 9, 2009 – Medidata Solutions, Inc. (NASDAQ: MDSO), a leading global provider of hosted clinical development solutions, today announced the pricing of 5,500,000 shares of its common stock at $15.00 per share in a public offering by a number of its stockholders. In addition, the underwriters have a 30-day option to purchase up to 825,000 additional shares of common stock from certain of the selling stockholders to cover over-allotments, if any. Medidata will not receive any of the proceeds from the expected sale of shares in the offering.
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