AdCare Health Systems Closes $4.1 Million Public Offering of Common Stock
(firmenpresse) - SPRINGFIELD, OH -- (Marketwire) -- 03/30/12 -- (NYSE Amex: ADK) announced today that it completed its previously announced firm commitment underwritten offering of 1,100,000 shares of AdCare's common stock at a price per share to the public of $3.75, for an aggregate offering amount of approximately $4.1 million. The net proceeds from the offering, after underwriting discounts and commissions and other offering expenses, are approximately $3.7 million. AdCare intends 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.
All conditions to the closing of the offering were satisfied.
The shares of common stock described above were offered pursuant to AdCare's existing effective shelf registration statement that was previously filed with the Securities and Exchange Commission and declared effective on June 27, 2011. A final prospectus supplement relating to the offering was filed with the Securities and Exchange Commission on March 27, 2012. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Noble Financial Capital Markets, 951 Yamato Road, Suite 210, Boca Raton, Florida 33431, telephone (561) 994-1191.
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
AdCare Health Systems, Inc. (NYSE Amex: ADK) is a recognized innovator in senior living and health care facility management. AdCare develops, owns and manages long-term care facilities and retirement communities, and since the company's inception in 1988, its mission has been to provide the highest quality of healthcare services to the elderly, including a broad range of skilled nursing and sub-acute care services. For more information about AdCare, visit .
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "plans," "intends," "anticipates" and variations of such words or similar expressions, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements reflect management's beliefs and assumptions and are based upon information currently available to management and involve known and unknown risks, results, performance or achievements of AdCare, which may differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by AdCare with the Securities and Exchange Commission and include, among others, AdCare's ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the health care industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There is no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements. Except where required by law, AdCare undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
References to the consolidated company and its assets and activities, as well as the use of terms such as "we," "us," "our," and similar verbiage, is not meant to imply that AdCare Health Systems, Inc. has direct operating assets, employees or revenue or that any of the facilities, the home health business or other related businesses are operated by the same entity.
Boyd Gentry, CEO
Chris Brogdon, Vice Chairman & CAO
David A. Tenwick, Chairman of Board
AdCare Health Systems, Inc.
Tel (937) 964-8974
Ron Both or Geoffrey Plank
Liolios Group, Inc.
Tel (949) 574-3860
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Datum: 30.03.2012 - 15:35 Uhr
Sprache: Deutsch
News-ID 130495
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SPRINGFIELD, OH
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