Teladoc Announces Pricing of Sale of Shares of Common Stock

November 29, 2017

PURCHASE, NY, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Teladoc, Inc. (NYSE:TDOC) (“Teladoc”) today announced the pricing of the previously announced offering of shares of its common stock, which includes 3,454,000 shares offered by Teladoc and 830,000 shares offered by certain stockholders of Teladoc named in the preliminary prospectus supplement (the “selling stockholders”) at a price to the public of $35.00 per share. The offering is expected to close on or about December 4, 2017, subject to customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 642,600 shares of common stock from Teladoc.

The proceeds of the primary portion of the offering will be used by Teladoc to prepay borrowings outstanding under its senior secured term loan facility. The remaining proceeds of the primary portion of the offering will be used by Teladoc for working capital and general corporate purposes. Teladoc will not receive any proceeds from shares of common stock to be sold by the selling stockholders.

J.P. Morgan, Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. William Blair is acting as co-manager for the offering.

A copy of the preliminary prospectus supplement and the accompanying prospectus related to the offering may be obtained from J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by telephone: (866) 803-9204; or from Jefferies LLC by mail at 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by telephone at (877)-821-7388 or by email at prospectus_department@jefferies.com; or from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at prospectus@pjc.com, or by phone at (800) 747-3924.

A registration statement (including a prospectus) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and has become effective. This offering may be made only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and the accompanying prospectus in that registration statement and other documents filed with the SEC for more information about Teladoc and this offering. You may obtain these documents free of charge by visiting the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Teladoc

Teladoc, Inc. (NYSE:TDOC) is the largest telehealth provider in the world. Recognized by MIT Technology Review as one of the “50 Smartest Companies,” Teladoc is forging a new healthcare experience with better convenience, outcomes and value. The company provides virtual access to high quality care and expertise, with a portfolio of services and solutions covering 450 medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure. By marrying the latest in data and analytics with its award-winning user experience and highly flexible technology platform, Teladoc has delivered millions of medical visits to patients around the globe.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our financing plans (including statements related to the offering of common stock by us and the selling stockholders and the intended use of net proceeds of the offering), future revenues, future earnings, future numbers of members or clients, litigation outcomes, regulatory developments, market developments, new products and growth strategies, and the effects of any of the foregoing on our future results of operations or financial conditions.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market conditions and receptivity to our services and offerings; (iii) results of litigation; (iv) the loss of one or more key clients; (v) our ability to successfully integrate acquisitions; and (vi) changes to our abilities to recruit and retain qualified providers into our network. Additional relevant risks that may affect our results are described in certain of our filings with the SEC.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Media Contact:
Courtney McLeod
Director of Communications, Teladoc
914-265-6789
cmcleod@teladoc.com

Investor Contact:
Bob East
or
Asher Dewhurst
Westwicke Partners
443-213-0500
teladoc@westwicke.com

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Source: Teladoc, Inc.