New Mountain, Towerbrook Capital report waiver related to R1 RCM negotiations

In a regulatory filing yesterday, TowerBrook Capital Partners disclosed: “On May 6, (R1 RCM) granted to the Partnership a waiver under the A&R Investor Rights Agreement to permit the Partnership, CoyCo and their respective affiliates to form, join and participate in a ‘group’ for purposes of a Joint Transaction and granted certain approvals for purposes of antitakeover statutes. The May 6 Waiver stipulates that discussions among the Investor Parties with respect to a Joint Transaction must cease on June 13, 2024 unless extended by the company. The Partnership intends to commence discussions with CoyCo permitted by the May 6 Waiver. The Partnership and its affiliates are or expect to be engaged in ongoing discussions and negotiations with CoyCo and other existing stockholders and potential financing sources. The Partnership and its affiliates have not reached any agreement, arrangement or understanding with any other person (including CoyCo) regarding any Joint Transaction. The Reporting Persons disclaim membership in any ‘group’ with CoyCo at this time, and there is no assurance that any such discussions will continue or that any such group may be formed.”