AdCare Health Systems Prices Public Offering of 1.1M Shares at $3.75
AdCare Health Systems, Inc. (NYSE: ADK) today announced that the public offering of 1,100,000 shares of AdCare's common stock has priced at a price per share to the public of $3.75. AdCare has granted the underwriter in the offering an option for 45 days to purchase up to an additional 165,000 shares of AdCare's common stock to cover over-allotments, if any.
The gross proceeds to AdCare from this offering are expected to be $4,125,000, or $4,743,750 if the underwriter exercises in full its over-allotment option, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AdCare. The offering is expected to close on or about March 30, 2012, subject to certain closing conditions.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.