Addus HomeCare Announces Public Offering of Common Stock

By Tamara Parker • Friday, June 28 15:18 • Permanent Link

Addus HomeCare Corporation (NASDAQ: ADUS) has announced a proposed public offering of 1,500,000 shares of its common stock. The company also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock, in an amount of up to 225,000 shares.

The net proceeds from this offering, estimated to be approximately $81.4 million, will be used for the repayment of all indebtedness outstanding under its credit facility and the remainder for general corporate purposes, including the previously announced acquisition of the personal care assets of Gentiva and any future acquisitions or investments.

Addus HomeCare Corporation is a provider of home care services that primarily include personal care services assisting with activities of daily living, as well as hospice and home health services. The company currently provides home care services to approximately 49,000 consumers through 214 locations across 22 states. Today the company's shares have moved 1.6% to a price of $116.0. For the full picture, make sure to review Addus HomeCare's 8-K report.

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