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AdaptHealth Announces Pricing of Upsized $600 Million 5.125% Senior Notes Due 2030
PLYMOUTH MEETING, Pa,--(BUSINESS WIRE)-- AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered,
About this update from Adapthealth Corp.
[{"type":"text","content":" PLYMOUTH MEETING, Pa,--(BUSINESS WIRE)--\nAdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today that its subsidiary, AdaptHealth LLC (the “Issuer”), has priced an offering of $600 million aggregate principal amount of 5.125% senior notes due 2030 (the “senior notes”). The senior notes will be issued at a price of 100.00% of their principal amount. The size of the offering was increased from the previously announced offering size of $550 million.\n\nThe senior notes will be guaranteed by certain of the Issuer’s current and future subsidiaries, as well as the Issuer’s direct parent, AdaptHealth Intermediate Holdco LLC, on a senior unsecured basis. The offering is expected to be completed on August 19, 2021, subject to the satisfaction of customary closing conditions.\n\nThe senior notes and related guarantees are being offered only to investors who are reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The senior notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.\n\nThe Company intends to use the gross proceeds from the offering (i) to repay the outstanding principal amount under the 12% promissory notes held by affiliates of Assured Investment Management LLC (f/k/a BlueMountain Capital Management, LLC), (ii) to repay amounts outstanding under the Company’s revolving credit facility, (iii) to pay related fees and expenses, and (iv) for general corporate purposes, which may include future acquisitions and other business opportunities, corporate expenditures and working capital.\n\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy ...