TriZetto Resale Registration Statements Declared Effective; Company's Share Count Unchanged
NEWPORT BEACH, Calif. – March 28, 2006 – The TriZetto Group, Inc. (Nasdaq: TZIX) announced today that the registration statement on Form S-3 for the registration and resale of $100 million of the company's 2.75% convertible senior notes due 2025 and the sale of 5,305,040 shares of common stock issuable upon conversion of the notes, has been declared effective by the Securities and Exchange Commission as of March 28, 2006. The notes originally were issued on October 5, 2005 in a private placement.
A second registration statement on Form S-3 for the registration and resale of 3,112,000 shares of common stock held by ValueAct Capital LLC also has been declared effective as of March 28. Prior to the effective date, ValueAct sold 2,888,000 shares of TriZetto common stock under Rule 144 of the Securities Act of 1933. Of the 3,112,000 remaining shares held by ValueAct, 3,000,000 shares are subject to a lock-up agreement. Of these, 1,500,000 shares may be sold after July 26, 2006 and the remaining 1,500,000 may be sold after November 23, 2006. TriZetto's 120-day average daily trading volume has been 369,862 shares.
TriZetto will not receive any proceeds from sales under either registration, and sales will not affect the total number of shares of TriZetto stock outstanding.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
A copy of either prospectus may be obtained from Investor Relations, The TriZetto Group, Inc., 567 San Nicholas Drive, Suite 360, Newport Beach, California 92660.
About TriZetto
Touching nearly 40% of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation. The company provides premier information technology solutions that enhance its customers' revenue growth, drive their administrative efficiency, and improve the cost and quality of care for their members. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups. The company's broad array of payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing services, and consulting. Headquartered in Newport Beach, California, TriZetto can be reached at 949-719-2200 or at www.trizetto.com.
CONTACTS:
Investors:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com