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Addus HomeCare Announces Closing of Public Offering
FRISCO, Texas--(BUSINESS WIRE)-- Addus HomeCare Corporation (Nasdaq: ADUS) (“Addus” or the “Company”), a provider of home care services, today announced the
About this update from Addus Homecare Corporation
[{"type":"text","content":" FRISCO, Texas--(BUSINESS WIRE)--\nAddus HomeCare Corporation (Nasdaq: ADUS) (“Addus” or the “Company”), a provider of home care services, today announced the closing of an underwritten public offering of 1,725,000 shares of its common stock (“Common Stock”), including 225,000 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 $108.00 per share. The net proceeds to the Company from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $176 million. Addus intends to use approximately $81.4 million of the net proceeds it received from this offering for the repayment of all indebtedness outstanding under its credit facility and the remainder for general corporate purposes, including the Company’s previously announced acquisition of the personal care assets of Gentiva and any future acquisitions or investments. There were no selling stockholders in the offering.\n\n\nBofA Securities and Jefferies acted as joint book-running managers for the offering and Oppenheimer & Co., Raymond James, RBC Capital Markets and Stephens Inc. acted as co-managers.\n\n\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 2, 2022, and became effective upon filing. Copies of the final prospectus supplement, dated June 26, 2024, and the accompanying prospectus are available on the SEC’s website at www.sec.gov and may also be obtained by request from BofA Securities NC1-022-02-25, Attn: Prospectus Department, 201 North Tryon Street, Charlotte, NC 28255, or by emailing [email protected], or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, or by telephone at (877) 821-7388, or by emailing [email protected].\n\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.\n\n\nAbout...