Molina Healthcare prices common stock public offering at $27.00 per share

Molina Healthcare, Inc. (NYSE:MOH) announced today the pricing of its previously announced underwritten public offering of 4,000,000 shares of common stock by the Company at a public offering price of $27.00 per share. The Company intends to use the net proceeds from the offering to reduce its borrowings under its $200 million senior secured credit facility, which credit facility had an outstanding balance of $105.0 million as of July 30, 2010.

In connection with the offering, the Company and selling stockholders have granted the underwriters a 30-day option to purchase at the public offering price an additional 600,000 shares to cover overallotments, if any. Of the 600,000 overallotment shares, 350,000 shares will be offered by the Company, while 250,000 shares will be offered by the selling stockholder (as identified in the prospectus). The Company will not receive any proceeds from any sale of overallotment shares by the selling stockholder.

BofA Merrill Lynch and J. P. Morgan Securities Inc. are acting as joint book-running managers for the offering. UBS Securities LLC, Mitsubishi UFJ Securities (USA), Inc. and Stifel, Nicolaus & Company, Incorporated will be the co-managers of the offering. The offering is being conducted pursuant to an effective registration statement filed with the Securities and Exchange Commission (the "SEC") on December 8, 2008.