Addus HomeCare Corporation’s $59 Million Common Stock Offering

Bass, Berry & Sims advised Addus HomeCare Corporation on the offering. Latham advised the underwriters.

Addus HomeCare Corporation (Nasdaq :ADUS ), a provider of home care services, today announced the closing of an underwritten public offering of 2,100,000 shares of its common stock at a public offering price of $59.00 per share. In the offering, the Company sold 1,075,267 shares of Common Stock and Eos Capital Partners III, L.P. sold 1,024,733 shares of Common Stock. The net proceeds to the Company from the offering were approximately $59 million, after deducting underwriting discounts and estimated offering expenses. Addus intends to use the net proceeds from the offering for general corporate purposes, including to potentially fund a portion of any future acquisitions that it may complete. Addus did not receive any proceeds from the sale of Common Stock by the Selling Stockholder.

Jefferies LLC, RBC Capital Markets, LLC and Raymond James & Associates, Inc. acted as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., and Stephens Inc. acted as co-managers.

Addus is a provider of home care services that include, primarily, personal care services that assist with activities of daily living, as well as hospice and home health services. Addus’ consumers are primarily persons who, without these services, are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled.

Bass, Berry & Sims advised Addus HomeCare Corporation with a team including David Cox (Picture), Jonathan D. Stanley, Kevin H. Douglas, Jay H. Knight, Taylor K. Wirth and Michael E. Hill.

Involved fees earner: David Cox – Bass Berry & Sims; Jonathan Stanley – Bass Berry & Sims; Kevin Douglas – Bass Berry & Sims; Jay Knight – Bass Berry & Sims; Taylor Wirth – Bass Berry & Sims; Michael Hill – Bass Berry & Sims;

Law Firms: Bass Berry & Sims;

Clients: Addus HomeCare Corp.;

Author: Ambrogio Visconti