Business
Addus HomeCare Announces Pricing Of Public Offering Of Common Stock
FRISCO, Texas, Sept. 4, 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. 4, 2019 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS) (\"Addus\" or the \"Company\"), a provider of comprehensive home care services, today announced the pricing of an underwritten public offering of 2,000,000 shares of common stock (\"Common Stock\") at the public offering price of $79.50 per share. Addus has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of Common Stock at the public offering price. The gross proceeds to the Company from the offering, before deducting underwriting discounts and estimated offering expenses, are expected to be $159.0 million, excluding any proceeds from the exercise of the underwriters' option to purchase additional shares from the Company. 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. There were no selling stockholders in the offering. \nJefferies LLC, RBC Capital Markets, LLC and Raymond James & Associates, Inc. are acting 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 are acting as co-managers. The offering is expected to close on or about September 9, 2019, subject to customary closing conditions.\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. A preliminary prospectus supplement relating to, and describing the terms of, the offering was filed with the SEC on September 3, 2019. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by request from Jefferies LLC, Attn: Equity Syndicate Pro...