Business
Addus HomeCare Announces Closing of Public Offering and Exercise of Option to Purchase Additional Shares
FRISCO, Texas, Sept. 9, 2019 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS) ("Addus" or the "Company"), a provider of comprehensive home care
About this update from Addus Homecare Corporation
[{"type":"text","content":"FRISCO, Texas, Sept. 9, 2019 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS) (\"Addus\" or the \"Company\"), a provider of comprehensive home care services, today announced the closing of an underwritten public offering of 2,300,000 shares of its common stock (\"Common Stock\"), including 300,000 shares of Common Stock sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at a public offering price of $79.50 per share. The net proceeds to the Company from the offering were approximately $172.9 million, after deducting underwriting discounts and estimated offering expenses. Addus intends to use some of the net proceeds it receives from the offering to fund the approximately $130.0 million purchase price for its acquisition of Hospice Partners of America, LLC, and may use any remaining net proceeds of the offering for general corporate purposes, including future acquisitions or investments, and the repayment of indebtedness outstanding under the Company's amended and restated credit facility.\nJefferies LLC, RBC Capital Markets, LLC and Raymond James & Associates, Inc. acted as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Stephens Inc., William Blair & Company, L.L.C., BMO Capital Markets Corp., and Sidoti & Company, LLC acted as co-managers.\nAn automatic shelf registration statement (including a prospectus) relating to the offering of Common Stock was filed with the U.S. Securities and Exchange Commission (the \"SEC\") on September 3, 2019, and became effective upon filing. Copies of the final prospectus supplement, dated September 4, 2019, and the accompanying prospectus are available on the SEC's website at www.sec.gov and may also be obtained by request from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by calling (877) 547‑6340, or emailing [email protected], RBC Capital Markets, LLC, Attn: Prospectus Department, 200 Vesey Street, 8th Floor, New York, NY 10281 or by calling (877) 822-4089, or emailing [email protected], or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, or by calling (800) 248-8863, or by emailing [email protected].\nThis press...