PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--AdaptHealth Corp. (NASDAQ: AHCO), a leading provider of home medical equipment, supplies and related services in the United States, announced today that it has commenced an underwritten public offering of 6,500,000 shares of its Class A Common Stock, subject to market and other conditions. In conjunction with the offering, the Company intends to grant to the underwriters a 30-day option to purchase up to 975,000 additional shares of Class A Common Stock. All of the Class A Common Stock is being offered by AdaptHealth.
The Company intends to use the net proceeds from the offering for general corporate purposes, including acquisitions and other business opportunities, capital expenditures and working capital. The closing of the Company’s previously announced acquisitions of Solara Medical Supplies and ActivStyle Holdings LLC is not dependent on the consummation of the offering, and the consummation of the offering is not dependent on the closing of the acquisitions.
Jefferies, Deutsche Bank Securities and UBS Investment Bank are acting as joint book-running managers for the offering. RBC Capital Markets and Stifel are acting as senior co-managers and Canaccord Genuity and Regions Securities LLC are acting as co-managers for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
About AdaptHealth Corp.
AdaptHealth Corp. is a leading provider of home healthcare equipment, medical supplies to the home and related services in the United States. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life and thrive. Product and services offerings include (i) sleep therapy equipment, supplies and related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) home medical equipment (HME) to patients discharged from acute care and other facilities, (iii) oxygen and related chronic therapy services in the home, and (iv) other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy and nutritional supply needs. The company is proud to partner with an extensive and highly diversified network of referral sources, including acute care hospitals, sleep labs, pulmonologists, skilled nursing facilities, and clinics. AdaptHealth services beneficiaries of Medicare, Medicaid and commercial insurance payors. AdaptHealth services over approximately 1.6 million patients annually in all 50 states through its network of 220 locations in 38 states.
