Graymark Healthcare Announces Exercise of Over-Allotment Option

OKLAHOMA CITY, July 13, 2011 /PRNewswire/ -- Graymark Healthcare, Inc. (NASDAQ: GRMH), the nation’s second largest provider of diagnostic sleep services and an innovator in comprehensive care for obstructive sleep apnea (OSA), announced that it has completed the sale of 340,000 additional shares of common stock, pursuant to the underwriters exercise of its over-allotment option in connection with its recently announced public offering of common stock and warrants.

The exercise of the over-allotment option brings the total number of shares sold by Graymark Healthcare in its underwritten public offering to 6.3 million and the aggregate net proceeds received by the company to approximately $7.3 million, after deducting underwriting discounts and commissions and other offering expenses.

Graymark Healthcare intends to use the net proceeds from this offering to fund potential acquisitions, for general corporate purposes and to pay down a portion of its debt obligation.

Roth Capital Partners acted as the sole book-running manager for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement relating to this offering may be obtained from Roth Capital Partners, LLC, attention: Equity Capital Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at +1-949-720-7194, or via email at [email protected].

About Graymark Healthcare

Headquartered in Oklahoma City, Okla., Graymark Healthcare, Inc. (NASDAQ:GRMH - News) is the nation's second largest provider of sleep management solutions. In addition to diagnosing and treating over 80 sleep disorders, the company specializes in comprehensive care for Obstructive Sleep Apnea (OSA). Graymark offers its services through 99 sleep laboratories throughout the United States, including standalone or IDTF facilities, rural outreach sites and hospital or provider agreements. For more information, visit www.graymarkhealthcare.com.

Important Cautions Regarding Forward-Looking Statements

This press release may contain forward-looking statements that are based on the company's current expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the company's expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the control of the company, including, without limitation, the current economic climate and other risks and uncertainties, including those enumerated and described in the company's filings with the Securities and Exchange Commission, which filings are available on the SEC's website at www.sec.gov. Unless otherwise required by law, the company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Graymark Healthcare, Inc.

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