According to today’s press release, AdCare plans to use the net proceeds from the offering for working capital and other general corporate purposes. Noble Financial Capital Markets acted as sole underwriter for the offering, and all conditions to the closing of the offering were satisfied.
The shares of common stock were offered pursuant to AdCare’s existing effective shelf registration statement that was previously filed with the Securities and Exchange Commission and declared effective last year. A final prospectus supplement relating to the offering was filed with the Securities and Exchange Commission three days ago. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Noble Financial Capital Markets.
AdCare Health Systems is an expanding national leader in the development, ownership, and management of assisted living facilities, skilled nursing, and retirement communities. The company’s 3,600 employees provide high-quality care for patients and residents residing in the 44 facilities that it operates with a total of approximately 3,900 beds/units in service.
Since inception, AdCare’s mission has been to provide the highest quality healthcare services to the elderly. With nine straight years of record revenue growth, the company has proven its ability to deliver high-quality care and strong operational efficiency. AdCare is well positioned to continue growing rapidly, both organically and via acquisitions, as industry trends and burgeoning opportunities across the U.S. increase the demand for long-term care.
To learn more about AdCare Health, visit its website at: www.AdCareHealth.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
