Addus HomeCare Corp. (ADUS), a provider of home care services, announced the pricing of an underwritten public offering of 1.50 million shares of common stock at the public offering price of $108.00 per share.
Addus has granted the underwriters a 30-day option to purchase up to 225,000 additional shares of Common Stock on the same terms and conditions.
The company expects the gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, to be $162 million, excluding any proceeds from the exercise of the underwriters' option to purchase additional shares from the company.
Addus plans to use about $81.4 million of the net proceeds it receives from the 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.
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